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Author : Hojong Shin
Publisher :
ISBN 13 : 9780355676419
Total Pages : 168 pages
Book Rating : 4.6/5 (764 download)
Download or read book Essays on Succession in Family Firms written by Hojong Shin and published by . This book was released on 2018 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Katharina Heinrichs
Publisher : BoD – Books on Demand
ISBN 13 : 3844103198
Total Pages : 181 pages
Book Rating : 4.8/5 (441 download)
Download or read book Succession in Family Businesses written by Katharina Heinrichs and published by BoD – Books on Demand. This book was released on 2014-04-08 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: Succession is inevitable and vital for the longevity of family businesses. But what do we know about succession in family businesses and where do we go from here? How does the interaction of family and business impact on succession? And which roles play identity and family member identification during the succession process? This book expands our knowledge on succession and prepares the grounds for a holistic view of succession in family businesses. Its first contribution is a systematic, replicable, and scientific review and consolidation of the theoretical and empirical literature on succession of the last 18 years into a transparent, logical, and in-depth framework. Furthermore, by analyzing the business and the family dimension in the context of succession, this book aims at detecting different succession patterns in family businesses and analyzes which factors influence the nature of successful succession processes. Besides its scientific contribution, this book helps family businesses and business families to better understand mechanisms happening during succession and enables them to identify and to understand their individual succession pattern. The findings of this book are based on a qualitative study conducted in the German Wine Industry. The sample consists of 21 family-owned and -managed German wineries, being, on average, in their 11th generation of existence. 37 semi-structured interviews held with both generations of one family if possible, translated into 695 pages of raw data. This data was coded and analyzed following a grounded theory approach.
Author : Sebastian Hillebrand
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (119 download)
Download or read book Essays on Family Firm Innovation - Contingencies of Generation, Management, and Succession written by Sebastian Hillebrand and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John A. Davis
Publisher :
ISBN 13 : 9780692079157
Total Pages : pages
Book Rating : 4.0/5 (791 download)
Download or read book Enduring Advantage written by John A. Davis and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This book of short, pithy essays by John A. Davis presents fresh data on why family businesses perform better than non-family businesses around the world. Davis¿ findings and insights have profound implications for business leaders, family members, and general readers alike. 2nd Edition ¿ Revised
Author : Tarek El Masri
Publisher :
ISBN 13 :
Total Pages : 171 pages
Book Rating : 4.:/5 (113 download)
Download or read book Three Essays on Corporate Governance of Family Firms written by Tarek El Masri and published by . This book was released on 2018 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is comprised of three essays on issues related to the corporate governance of family firms. The first essay explores how owners-managers of family firms conceptualize and define their firms. Understanding the essence of a family firm helps us better understand their governance and behaviour. This essay contributes to the family business literature by presenting the seven most important criteria in identifying a family business (Handler 1989; Shanker & Astrachan 1996), namely: family ownership, control, involvement, succession, long-term vision, founders' legacy, and extended family of employees. The essay also contributes a familiness measurement tool that can be used in future research aiming at better understanding the family firm. The second essay investigates how management control technologies are calibrated in accordance with the sometimes conflicting economic and noneconomic goals resulting from the dual identities of family firms. The results show that family firms calibrate pervasive management control technologies, such as calculative, family-centric or procedural controls to strengthen the business identity and reduce the family identity of their family business. In comparison, the minimal use, or perceived absence, of management control technologies suggest that it accentuates and fosters family identity. Hence, reverting to management control technologies becomes related in a unilateral way to the business identity of the firm, despite the dual control ambition of family firms. The third essay analyzes CEO and TMT compensation practices to identify patterns that can explain the gap between family firms and the pool of external highly qualified executives. The data analysis highlights a connection between the degree of family ownership, the composition of the BOD, and the identity of the CEO. The results also show that family firms rely more heavily on cash-based awards than on equity-based awards as a form of CEO and TMT compensation. Family firms are reluctant to use option-based rewards and the use of share-based awards is also kept at a minimum. Other evidence point towards a role that institutional ownership plays in restructuring the compensation packages of the TMTs at family firms. Keywords: Family Firms, Definition of Family Firms, Family Firm Identity, Management Control Technologies, Corporate Governance, Executive Compensation.
Author : Alexandra Katharina Zehe
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (953 download)
Download or read book Three Essays on Family Firm Succession written by Alexandra Katharina Zehe and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alexander Schmithausen
Publisher : GRIN Verlag
ISBN 13 : 3656292663
Total Pages : 21 pages
Book Rating : 4.6/5 (562 download)
Download or read book Impact of Generational Change on Change Management Strategy in Family Businesses written by Alexander Schmithausen and published by GRIN Verlag. This book was released on 2012-10-18 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2012 in the subject Business economics - Business Management, Corporate Governance, grade: 1,0, University of Edinburgh (Business School), course: Change Management , language: English, abstract: This essay examines the issue of organisational change and its management, with specific regard to succession and generational change in family businesses. This short essay attempts to analyse the bringing about of organisational change in family businesses, with specific regard to the impact of succession and generational change upon organisational change management strategies. The essay discusses the rationale for organisational change, describes relevant change management models and furthermore takes up the limitations and challenges of succeeding generations to respond to changing environments and manage change. Use is made of various change management models and succession theories for the evaluation of this study.
Author : Ritch L. Sorenson
Publisher : Edward Elgar Publishing
ISBN 13 : 1782547541
Total Pages : 255 pages
Book Rating : 4.7/5 (825 download)
Download or read book The Landscape of Family Business written by Ritch L. Sorenson and published by Edward Elgar Publishing. This book was released on 2013-09-30 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: •The editors should be commended for developing a Map of the Landscape of Family Business Outcomes. It gives future research direction to the discipline considering both short-term profitability and long-term sustainability. It considers conventional c
Author : Alan L. Carsrud
Publisher : Springer Science & Business Media
ISBN 13 : 1461412013
Total Pages : 128 pages
Book Rating : 4.4/5 (614 download)
Download or read book Family Firms in Transition written by Alan L. Carsrud and published by Springer Science & Business Media. This book was released on 2011-09-15 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many of the challenges faced by family-owned businesses develop after the firm has reached a stage of maturity, when the first generation is faced with issues concerning the role of their children in the business and the long-term future of the enterprise. This collection of case studies from around the world demonstrates how governance of both the business and the family (or lack thereof) impacts succession of leadership in the firm and the inheritance of ownership and wealth. It is the role of governance and how it impacts both family and firm that link these family business cases together with succession and inheritance. These topics have been clustered together because the social systems of the family and the management system of the firm have significant impacts on the success, or failure, of succession plans. All the planning in the world for succession and inheritance will not succeed if the firm does not have a well established and functional governance system. Likewise, if the family does not understand its role in the governance of the firm and the mechanisms for making sound decisions, succession choices may not be accepted by family members. Most family firms fail because of succession issues, not economic ones. This volume features nine in-depth cases of family-owned business from a variety of industries to illuminate the dynamics of governance, succession, and inheritance. Each case illustrates the complexity of issues and, through interactive exercises and questions, offers readers approaches to solutions, which may include less-than-optimal compromises or even selling the business as the only viable option. The examples and insights will prove valuable for students and members of entrepreneurial and family-owned firms, as well as consultants, investors, and other professional advisors.
Author : Kelin E. Gersick
Publisher : Harvard Business Press
ISBN 13 : 087584555X
Total Pages : 316 pages
Book Rating : 4.8/5 (758 download)
Download or read book Generation to Generation written by Kelin E. Gersick and published by Harvard Business Press. This book was released on 1997 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Generation to Generation will help managers understand the special dynamics & challenges that family businesses face as they move through their life cycles. It explains how to handle succession, & the role of non-family professionals.
Author : Daniel Scheffold
Publisher : GRIN Verlag
ISBN 13 : 3656606536
Total Pages : 74 pages
Book Rating : 4.6/5 (566 download)
Download or read book Critical success factors and best practices for business succession. written by Daniel Scheffold and published by GRIN Verlag. This book was released on 2014-03-03 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2013 in the subject Business economics - Business Management, Corporate Governance, grade: 1,3, University of Applied Sciences Stuttgart (Fakultät für Wirtschaft), course: General Management/ International Business Management, language: English, abstract: Purpose: Knowledge of the factors that influence success in the succession of family businesses is limited. Despite recent studies, theory cannot explain why only 10 % of all family businesses make it to the third generation. The aim of this dissertation is to identify critical success factors for succession in family businesses. Methodology: A qualitative multiple-case study design with third-generation family businesses, two from Germany and one from the UK was employed. A cross-case analysis was carried out to identify critical success factors and then complemented by a single-case analysis. Findings: Nine of the ten tested hypotheses were confirmed. These were successor development, professionalization, knowledge transfer, capital structure, corporate governance, family harmony, stepping aside, succession planning and long-term orientation. The hypothesis about dividend policy was not confirmed. No significant differences were found to be based on national influence. Practical Implications: From the results, a new model for family business succession is developed which leads to four best practice recommendations. These are the implementation of shared leadership, linking ownership to management; ensure communication in the family to create family harmony and the use of outside consultants. Limitations: Due to the case study design, this research does not provide statistical generalizable findings. Originality/ Value: This study increases the knowledge about critical success factors of succession in family businesses. The use of cases from two countries and three different industries increases the significance. The newly developed model for family business succession proposes a new view on the succession process that should be tested by future studies.
Author : Daniel Scheffold
Publisher : diplom.de
ISBN 13 : 3954897547
Total Pages : 76 pages
Book Rating : 4.9/5 (548 download)
Download or read book Why 9 of 10 Family Businesses fail at succession: Learn what the 10 % make right. Best practices from the UK and Germany written by Daniel Scheffold and published by diplom.de. This book was released on 2014-04-01 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: The harsh reality: 9 out of 10 of family businesses will never make it to the third generation. This book investigates which factors are critical for the success of a succession. The study of three family businesses in the third generation from Germany and the UK lead to four best practices. From the results, a new model for succession in family businesses was developed. The qualitative study is one of the first that investigates the performance of successions with an international perspective. This book is recommended for family business researchers, family business owners, advisors and students interested in family business studies.
Author : Niklas Kürten
Publisher : GRIN Verlag
ISBN 13 : 3638854159
Total Pages : 29 pages
Book Rating : 4.6/5 (388 download)
Download or read book Application of a Unique Model to Build Up Succession of Family Business in Practice written by Niklas Kürten and published by GRIN Verlag. This book was released on 2007-11 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2006 in the subject Business economics - Company formation, Business Plans, grade: 1,7, European Business School - International University Schlo Reichartshausen Oestrich-Winkel, 12 entries in the bibliography, language: English, abstract: Literature generally cites the low survival rate which family businesses face. Only 30 % of the companies further survive into the second generation, even only 15 % to 16 % into the third generation. Although many researchers see the most potential reason for this within the lack of adequate planning when company-owner hand over their businesses to offsprings or external managers, there exist various further reasons. In general, academics offer within their works a wide range of reasons, internal as well as external caused factors, which strongly influence the success of the succession within family businesses. Further, they developed several models and academic approaches to build up the process of succession and the mentioned different influences within holistic approaches of succession in family businesses to enable companies a successful handing over. Still, the situation in practice has not changed significantly since the current survival rate is steadily on a further low level. This could consequently reveal the hint of too little interaction between theory and practice respectively between academics and practitioners. Other branches showed the potential and the possible win-situations for both sides. Therefore, the research objective of this paper is to work out, to what extent a unique theoretical model is able to build up all relevant factors influencing the succession as an integrated process in theory to project this onto family businesses in practice and to provide solutions for succession within these companies.
Author : Michael A. Lobraico
Publisher : BPS Books
ISBN 13 : 1926645693
Total Pages : 174 pages
Book Rating : 4.9/5 (266 download)
Download or read book Succession Planning for Family Businesses written by Michael A. Lobraico and published by BPS Books. This book was released on 2011-08-23 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether big or small, global or local, family businesses are the engine of wealth and security for owners, families, employees, and business as a whole. But as this book shows, that engine can easily break down: If the family, ownership, and business circles related to the business fail to hold regular and candid conversations that clarify ownership's intent for the business and the rules for family members' ownership of and employment in the company And if the business fails to run itself on solid, independent business principles Using an entertaining case study of a composite company, Blooms Floral, the authors coach readers in how to conduct these conversations to ensure that future generations of their family business not only survive, but thrive.
Author : C. Aronoff
Publisher : Springer
ISBN 13 : 1137512083
Total Pages : 103 pages
Book Rating : 4.1/5 (375 download)
Download or read book Family Business Succession written by C. Aronoff and published by Springer. This book was released on 2017-06-30 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: Helps to prepare for passing the family business on to the next generation. Leaders will learn how to create a succession plan; how to develop opportunities for succession candidates; how to build consensus with the family and leaders on succession plans and finally leaders will learn when and how to let go of their own role in the business.
Author : Andrew Keyt
Publisher : John Wiley & Sons
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4./5 ( download)
Download or read book Myths and Mortals written by Andrew Keyt and published by John Wiley & Sons. This book was released on 2015-06-16 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Credibility-it's elemental to business leadership. You can't lead without it. For successors in familybusinesses, establishing credibility can be their greatestchallenge. Growing up in the shadows of their predecessors'successes makes it difficult for successors in family businesses toestablish themselves and use their gifts to lead. To lead storied family businesses, successors build credibilitythe hard way - just like their parents did: they earn it. However, they may face the more formidable challenge of winningover those loyal to another leader and another way of doingbusiness. They also live with the pressure of leading somethingthat has already been successful. In ground-breaking research, Andrew Keyt interviewed more than 25 successors of family businesslegends, including Massimo Ferragamo (Salvatore Ferragamo), JohnBurke (Trek), Bill Wrigley Jr. (The Wrigley Companies), ChristieHefner (Playboy Enterprises), John Tyson (Tyson Foods) and DickDevos (Amway). The insights and analysis from the study form thebasis for the key insights on how successors overcome the obstaclesto credibility and build on what the legends created"--
Author : Veronika Stefanie Rettenmeier
Publisher : BoD – Books on Demand
ISBN 13 : 3844103716
Total Pages : 225 pages
Book Rating : 4.8/5 (441 download)
Download or read book Stakeholder Support in Family Businesses written by Veronika Stefanie Rettenmeier and published by BoD – Books on Demand. This book was released on 2014-12-11 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many family businesses fail during succession and sometimes they do because the successor is not granted the legitimacy by primary stakeholders of the company. But what does it take to be a legitimate successor in the eyes of these audiences? Are there different dimensions of legitimacy? And if so, do different stakeholder groups value the different dimensions of legitimacy differently? This book expands our knowledge of the origin and impact of a successor’s legitimacy in family owned businesses after succession. By analyzing a successor’s legitimacy on five dimensions, this work detects whether primary stakeholder groups’ decisions, to continuously provide their resources to family businesses after succession, depend on their perceived legitimacy of the successor and differ depending on the group the stakeholder belongs to. This book helps to understand why some successors are more successful than others in reassuring important resources to the company. Moreover, it helps successor candidates to identify which information they should signal toward a particular stakeholder group and how much weight should be attached to different claims and expectations. The findings of this book are based on an innovative paper-based policy-capturing analysis with family members, employees of family businesses and bankers. The participants of the experiment assessed more than 3,400 decisions to allocate further resources to the family business after succession depending on their legitimacy judgment.
