Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Succession in Family Firms: A Mutual Role Adjustment between Entrepreneur and Next-generation Family Members

Succession in Family Firms: A Mutual Role Adjustment between Entrepreneur and Next-generation... 1042-2587-90-151 $1 .50 Copyright 1990 by Baylor University Succession in Family Firms: A Mutual Role Adjustment between Entrepreneur and Next-generation Family Members Wendy C. Handler A critical issue for the continuity of family businesses is the management of succession. This paper suggests that succession can be conceptualized as a mutual role adjustment between entrepreneur and next-generation family member(s). A framework highlighting the four-stage process is presented. The model was generated through in-depth qualitative research with next-generation family members. To test this model, hypotheses are pre­ sented. Practical applications and theoretical implications for entrepreneurial and family firms are suggested. CONCEPTUAL BACKGROUND Business founders often have difficulty giving up that which they have created or developed (Churchill & Lewis, 1983; Dyer, 1986; Kets de Vries, 1985; Levinson, 1971 ). They fail to prepare for succession by ignoring the need to choose or train a successor (Schein, 1985). Danco (1982) indicates how this typically results in the purposeful killing of the business-what he calls "corporeuthanasia." In addition, successors are chosen who are bound for failure (Levinson, 1974 ). They include the "loyal servant" (a conscientious helper but an incompetent leader), the "watchful waiter" (a star performer from outside, who must wait sometimes http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Entrepreneurship Theory and Practice SAGE

Succession in Family Firms: A Mutual Role Adjustment between Entrepreneur and Next-generation Family Members

Entrepreneurship Theory and Practice , Volume 15 (1): 16 – Oct 1, 1990

Loading next page...
 
/lp/sage/succession-in-family-firms-a-mutual-role-adjustment-between-1L69WC05og

References (14)

Publisher
SAGE
Copyright
© 1990 SAGE Publications
ISSN
1042-2587
eISSN
1540-6520
DOI
10.1177/104225879001500105
Publisher site
See Article on Publisher Site

Abstract

1042-2587-90-151 $1 .50 Copyright 1990 by Baylor University Succession in Family Firms: A Mutual Role Adjustment between Entrepreneur and Next-generation Family Members Wendy C. Handler A critical issue for the continuity of family businesses is the management of succession. This paper suggests that succession can be conceptualized as a mutual role adjustment between entrepreneur and next-generation family member(s). A framework highlighting the four-stage process is presented. The model was generated through in-depth qualitative research with next-generation family members. To test this model, hypotheses are pre­ sented. Practical applications and theoretical implications for entrepreneurial and family firms are suggested. CONCEPTUAL BACKGROUND Business founders often have difficulty giving up that which they have created or developed (Churchill & Lewis, 1983; Dyer, 1986; Kets de Vries, 1985; Levinson, 1971 ). They fail to prepare for succession by ignoring the need to choose or train a successor (Schein, 1985). Danco (1982) indicates how this typically results in the purposeful killing of the business-what he calls "corporeuthanasia." In addition, successors are chosen who are bound for failure (Levinson, 1974 ). They include the "loyal servant" (a conscientious helper but an incompetent leader), the "watchful waiter" (a star performer from outside, who must wait sometimes

Journal

Entrepreneurship Theory and PracticeSAGE

Published: Oct 1, 1990

There are no references for this article.