The Role of Internal Family Networks in Succession Choice
摘要
Family businesses play significantly in the world economy; yet, the majority can somehow manage to survive through leadership change from impacts of family relationships. Unlike some business corporations with formalized transitions, family companies dominantly depend on family relationships and informal decision-making, hence bringing about business instability as well as conflicts. This research examines just how internal family systems indeed influence successor choice, and shape leadership transition on business resilience. Through in-depth qualitative research with strict thematic analysis of family firm owner interviews, the research discovers a number of important succession determinants, such as traditional heirarchy, mentering, and resistance to modernization of the modern kind. The research does uncover that in fact successor selection is usually highly influenced by family influence, in contrast to planned planning, and therefore jeopardizing some degree of business stability. This paper suggests the adoption of comprehensive succession planning and participative decision-making. Systematic leadership development programs, coupled with open communication, will ensure successful leadership succession and long-term business success.