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Intergenerational Followership of Small and Medium Enterprises (SMEs)

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  • Julia M. Puaschunder

    (Columbia University, USA)

Abstract

The contemporary business and management literature offers an ample account of leadership theory and practice guidance. Future corporate employees are trained to climb up the hierarchy to obtain the aspirational goal of leadership. Leadership theory in the Western world appears to focus on large corporations and multi-national businesses. Most recently, literature emerged that points at drawing attention to small-medium enterprises (SMEs), which are actually the majority of businesses, especially dominating in smaller more fractionate market economics, such as the European continent. SMEs are also the most predominant form of business in developing and transition economies. This article draws attention to the importance of shedding light on SMEs in the overall business, economics and management literature. Currently there is also literature emerging on the importance of attention to followership in the wealth of insights already derived for leadership management and practice. Strategic followership aids decision-makers decide wisely how to follow, whom to follow and when to follow. This paper will address followership in SMEs. Lastly, this paper also contributes by drawing attention to an overlooked feature of SMEs in mainly being family firms. The SMEs nature of family business will be investigated from an intergenerational aspect in order to derive strategic followership advice with respect for intergenerational family influences. The paper closes with an outlook of future research in the field of SME strategic followership with respect for intergenerational family business characteristics.

Suggested Citation

  • Julia M. Puaschunder, 2023. "Intergenerational Followership of Small and Medium Enterprises (SMEs)," RAIS Conference Proceedings 2022-2023 0266, Research Association for Interdisciplinary Studies.
    • Handle: RePEc:smo:raiswp:0266
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    References listed on IDEAS

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    1. Michael Carney, 2005. "Corporate Governance and Competitive Advantage in Family–Controlled Firms," Entrepreneurship Theory and Practice, , vol. 29(3), pages 249-265, May.
    2. Anderson, Ronald C. & Mansi, Sattar A. & Reeb, David M., 2003. "Founding family ownership and the agency cost of debt," Journal of Financial Economics, Elsevier, vol. 68(2), pages 263-285, May.
    3. Monique Calvi-Reveyron, 2000. "Le capitalisme familial, dans un contexte français, induit-il moins de dividendes que les autres formes d'actionnariat?," Revue Finance Contrôle Stratégie, revues.org, vol. 3(1), pages 81-116, March.
    4. Julia M. Puaschunder, 2018. "Intergenerational Responsibility in the 21st Century," Vernon Press Titles in Economics, Vernon Art and Science Inc, edition 1, number 135, July.
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    Keywords

    Behavioral Economics; Behavioral Insights; Development; Economics; Family;
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