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The Important Role of the Successor within the Family Succession Process

Author

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  • Antonia Hollerbach

Abstract

The high actual topic of succession of family companies within our global and fast developing and moving world is becoming more and more important to secure our future wealth especially within our European Union. The hope is lying on the daughters and sons of yesterdays and today's entrepreneurs and founders, which will be the successors of tomorrow and therefore responsible for a major part of the Gross Domestic Product, the employment rate and the situation on the markets. The successor of a family company is standing between his family and his company, the requirements towards him in every aspect are enormous and there is no school to go to enable oneself to succeed. The factors as well as the influences on the success and therefore the process of succession are various and not to be calculated. Different influence factors on the successor as i.e. childhood, growing up process, experiences as well as the social intelligence of the successor are the foundation for social skills and the characteristics.

Suggested Citation

  • Antonia Hollerbach, 2012. "The Important Role of the Successor within the Family Succession Process," Ekonomika a Management, Prague University of Economics and Business, vol. 2012(1), pages 28-34.
    • Handle: RePEc:prg:jnleam:v:2012:y:2012:i:1:id:156:p:28-34
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    More about this item

    Keywords

    Successor of a family company; Change management; Requirements for a potential successor;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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