Innovation and Succession Planning: A case study on family owned businesses.

Schneider, Carolin (2020) Innovation and Succession Planning: A case study on family owned businesses. Masters thesis, Griffith College.

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In this study, it was shown that the influence of the predecessor, be it formal or informal, on the succeeding generations’ ability to conduct business and innovate within the frame of the family owned business can be described as undeniable. The current status in research regarding family owned businesses suggested a vast knowledge about the aforementioned sector. However, most of the research conducted so far mainly focused on the larger family owned firms, especially their attempts and struggles to balance profit-oriented conduction of business with the perceived responsibilities for their respective employees. Such struggles also befall medium sized to small family owned businesses in various sectors of the economy. It could also be contested, that while influencing factors such as innovation, succession as well as culture and management had been separately researched thoroughly, the intersections and reciprocal influences of each of these factors have not been the main focus so far. This case study sought to give a first insight into a variety of exemplary companies in various sectors and their respective approaches to such topics as socio-emotional wealth, succession planning and innovation within the company. This led to the question “How is the innovative capacity in small family owned businesses to be assessed?” The subject has been approached by conducting an exploratory method which aims to give a broad overview of the subject matter. In reviewing the existing literature with a particular focus on the factors innovation, succession as well as culture and management, a conceptual framework was created to further aid the analysis of the data collected. A particular focus was the development and conduction of innovation as well as the role each related party in the succession process (predecessors and successors respectively) played. The results of the data collection were then analysed and summarized in three findings which in turn were put into the context of the aforementioned conceptual framework.

Item Type: Thesis (Masters)
Uncontrolled Keywords: Innovation, Succession Planning, Family owned businesses.
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HM Sociology
Divisions: Graduate Business School > MSc in International Business Management
Depositing User: Ms Tehseen Faisal
Date Deposited: 17 Feb 2021 01:19
Last Modified: 17 Feb 2021 01:20

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