Ecological succession as a model for family business transitions: Integrating organizational ecology with succession-based governance in multigenerational enterprises

A family business succession involves more than just a change in control. Drawing from plant succession ecology, a new model reconceptualizes generational changes as cycles of disruption, adaptation, and renewal. Integrating the pioneer–climax with the dynamic equilibrium model demonstrates how family firms balance innovation with legacy preservation. Succession is not a fixed sequence but a rhythm of strategic shifts influenced by internal and external factors. Five mechanisms capture enduring continuity: adaptive governance, leadership selection based on vetted competencies, institutionalized innovation, disruption as a renewing force, and dynamic equilibrium. These findings combine ecological resilience with governance at the firm level, expanding family business theory. Other implications include governance designed to absorb shocks, creating position pipelines based on merit, and embedding mechanisms to foster innovation within established traditions. Testing the framework across industries and cultures, integrating it with empirical models of resilience, and examining macro or technological drivers of shifts in succession outcomes would further advance this research.