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Motives and Outcomes in Family Business Succession Planning

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  • Michael Gilding
  • Sheree Gregory
  • Barbara Cosson

Abstract

The family business succession planning literature routinely assumes two main motives on the part of incumbents: family business continuity across generations and family harmony. The cross–tabulation of these motives produces a typology consisting of four distinct combinations of motives for succession planning. In turn, these combinations suggest four outcomes of succession planning, framed as institutionalization, implosion, imposition, and individualization. The first two outcomes—institutionalization and implosion—are fully elucidated in the literature. The other two—imposition and individualization—are routinely overlooked. The proposed typology highlights the repertoire of motives that inform succession planning, and how they promote distinct succession outcomes.

Suggested Citation

  • Michael Gilding & Sheree Gregory & Barbara Cosson, 2015. "Motives and Outcomes in Family Business Succession Planning," Entrepreneurship Theory and Practice, , vol. 39(2), pages 299-312, March.
    • Handle: RePEc:sae:entthe:v:39:y:2015:i:2:p:299-312
    DOI: 10.1111/etap.12040
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    References listed on IDEAS

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    Cited by:

    1. Patrizia Fanasch & Bernd Frick, 2021. "Filling Big Shoes: CEO and COO Succession Planning in Family Businesses," Working Papers Dissertations 69, Paderborn University, Faculty of Business Administration and Economics.
    2. Umans, Ine & Lybaert, Nadine & Steijvers, Tensie & Voordeckers, Wim, 2021. "The influence of transgenerational succession intentions on the succession planning process: The moderating role of high-quality relationships," Journal of Family Business Strategy, Elsevier, vol. 12(2).
    3. Carolina Lescura de Carvalho Castro Volta & Alex Fernando Borges & Mônica Carvalho Alves Cappelle, 2021. "Succession in Family Business: An Analysis through the Concept of Conatus," RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration), ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração, vol. 25(4), pages 200021-2000.
    4. José António Porfírio & Tiago Carrilho & Joseph Hassid & Ricardo Rodrigues, 2019. "Family Business Succession in Different National Contexts: A Fuzzy-Set QCA Approach," Sustainability, MDPI, vol. 11(22), pages 1-17, November.
    5. Feifei Lu & Ho Kwong Kwan & Bin Ma, 2022. "Carry the past into the future: the effects of CEO temporal focus on succession planning in family firms," Asia Pacific Journal of Management, Springer, vol. 39(2), pages 763-804, June.
    6. Georgiou, Thoukis & Papasolomou, Ioanna & Vrontis, Demetris & Thrassou, Alkis, 2023. "Market-oriented succession effectiveness in family business – Case-based evidence from Cyprus family-owned wine business," Journal of Business Research, Elsevier, vol. 165(C).
    7. Ine Umans & Nadine Lybaert & Tensie Steijvers & Wim Voordeckers, 2020. "Succession planning in family firms: family governance practices, board of directors, and emotions," Small Business Economics, Springer, vol. 54(1), pages 189-207, January.
    8. Shikha Bhardwaj & Sumedha Chauhan & Parul Gupta, 2023. "CEO Succession in Family Firm: An Integrated Framework and Future Research Insights," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 32(3), pages 667-699, November.
    9. Boris Rumanko & Zuzana Lušňáková & Monika Moravanská & Mária Šajbidorová, 2021. "Succession as a Risk Process in the Survival of a Family Business—Case of Slovakia," JRFM, MDPI, vol. 14(10), pages 1-20, September.
    10. Amarjit Gill, 2020. "Impact of Family Control on Intrafamily Succession Intention and Firm Investment," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 19(3), pages 237-256, December.
    11. Steve Kyungjae Lee, 2023. "Does “familiness” enhance or reduce firms’ willingness to engage in partnership with rivals? Empirical evidence from South Korean savings banks," Asian Business & Management, Palgrave Macmillan, vol. 22(1), pages 217-245, February.
    12. Kalin Pipatanantakurn & Vichita Vathanophas Ractham, 2022. "The Role of Knowledge Creation and Transfer in Family Firm Succession," Sustainability, MDPI, vol. 14(10), pages 1-18, May.
    13. Maarten B.T. de Groot & Oli R. Mihalache & Tom Elfring, 2022. "Toward a Theory of Family Social Capital in Wealthy Transgenerational Enterprise Families," Entrepreneurship Theory and Practice, , vol. 46(1), pages 159-192, January.
    14. Arndt Werner & Sabrina Schell & Ljuba Haunschild, 2021. "How does a succession influence investment decisions, credit financing and business performance in small and medium-sized family firms?," International Entrepreneurship and Management Journal, Springer, vol. 17(1), pages 423-446, March.
    15. M. Dolores Botella-Carrubi & Tomas F. González-Cruz, 2019. "Context as a Provider of Key Resources for Succession: A Case Study of Sustainable Family Firms," Sustainability, MDPI, vol. 11(7), pages 1-18, March.
    16. Stewart, Alex, 2020. "Family control, ambivalence, and preferential benefits," Journal of Family Business Strategy, Elsevier, vol. 11(4).
    17. Angel L. Meroño-Cerdán, 2023. "Unexpected Successor in Family Firms: Opportunity or Trap for Women?," Journal of Family and Economic Issues, Springer, vol. 44(2), pages 313-324, June.

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