An improved succession planning roadmap for family businesses : a case study

Abstract

This dissertation focuses on providing an improved roadmap for family businesses transitioning through the second and third generation. Currently, most family businesses fail to make it through to the second generation, let alone to the third. The dissertation contains a thorough analysis of all the factors, which either challenge a succession plan or aid in it. These factors vary from family issues to organisational issues, to ownership governance factors, all of which play a crucial role within a succession plan. The organisation being analysed in the dissertation is a local family business, which is currently in its second generation and is trying to pave its way for a smooth transition to the third generation. Various literature was analysed taking into perspective both the local and international context. Besides, a series of interviews were held with family members and a consultant related to the firm; to better understand how to go about with succession planning and to give light to any contrasting views. In addition, this study provides an added value to other studies as it also contains the feedback of a selected number of employees within the organisation, something, which has not been observed in other studies. This resulted in various interesting findings in the process of identifying and providing an improved roadmap to succession planning.