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The family business succession paradox : maintaining family control through empowerment and inclusion of external actors

Tippelskirch, Sebastian Niclas von (2018) The family business succession paradox : maintaining family control through empowerment and inclusion of external actors.

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Abstract:In the lifetime and development of every business, one event it has to cope with, is the process of top management succession. This includes transferring responsibilities and power to the next generation in order to facilitate a company’s survival. However, this generational transfer bears problems and issues that many companies fail to overcome, shown by high failure rates of successions, especially in family businesses. The purpose of this thesis is to explore and identify how German family businesses have successfully coped with these issues. To explore this, five interviews with German family business managers, who have successfully overcome generational successions were conducted. In this context, the usage of advisory boards, mentoring and executive coaching was explored. Additionally, other aspects which influence generational successions were introduced, including the relative importance of these factors. I uncovered the usage of different tools which ultimately led to the continuation of the family business and how they have effectively contributed to this success. Furthermore, a paradox was uncovered, in which family businesses manage to maintain control over their company through the empowerment of non-family members. Therefore, it is the addition of perspectives and inputs from outside of the founding family that lead to business continuation.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:International Business Administration BSc (50952)
Link to this item:http://purl.utwente.nl/essays/75445
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