I want to break free: Successor Emancipation in Family Business
Family business successors live at the nexus of past, present and future, nourished and inspired by past legacies while also craving to build a brand-new future. The senior generation is generally the guardian of firm continuity in charge of preserving past achievements, whereas the next generation...
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| Format: | Article |
| Language: | English |
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University of Deusto
2024-03-01
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| Series: | Boletín de Estudios Económicos |
| Subjects: | |
| Online Access: | https://bee.revistas.deusto.es/article/view/2755 |
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| author | Miruna RADU-LEFEBVRE Vincent Lefebvre |
| author_facet | Miruna RADU-LEFEBVRE Vincent Lefebvre |
| author_sort | Miruna RADU-LEFEBVRE |
| collection | DOAJ |
| description |
Family business successors live at the nexus of past, present and future, nourished and inspired by past legacies while also craving to build a brand-new future. The senior generation is generally the guardian of firm continuity in charge of preserving past achievements, whereas the next generation might dream about introducing change and innovation within the current landscape of the family firm. Yet these attempts too often trigger resistance and anxiety in the senior generation, who might respond with increasing control and suspicion to any tentative of challenging the status quo such as transforming current products, services, business models, or organizational structures. Successors operate at the intersection of these opposite forces of conservatism and reform, and one of their major issues is that they need to handle them effectively, that is without jeopardizing family relations and harmony nor losing themselves into the process. Unless they succeed in doing so, succession failure might follow. By combining two different streams of literature grounded in distinct disciplines, namely succession literature in family business and emancipation literature in entrepreneurship, we reveal successor emancipation as a novel explanation of why successions fail and offer some practical advice on how to handle these tensions in intra-family succession.
Received: 10 May 2023
Accepted: 28 Jun 2023
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| format | Article |
| id | doaj-art-3830700cb70c43878e6ad1cf1967bf20 |
| institution | Kabale University |
| issn | 0006-6249 2951-6722 |
| language | English |
| publishDate | 2024-03-01 |
| publisher | University of Deusto |
| record_format | Article |
| series | Boletín de Estudios Económicos |
| spelling | doaj-art-3830700cb70c43878e6ad1cf1967bf202025-01-16T18:52:54ZengUniversity of DeustoBoletín de Estudios Económicos0006-62492951-67222024-03-017823410.18543/bee.2755I want to break free: Successor Emancipation in Family BusinessMiruna RADU-LEFEBVRE0Vincent Lefebvre1Audencia Business SchoolAudencia Business School Family business successors live at the nexus of past, present and future, nourished and inspired by past legacies while also craving to build a brand-new future. The senior generation is generally the guardian of firm continuity in charge of preserving past achievements, whereas the next generation might dream about introducing change and innovation within the current landscape of the family firm. Yet these attempts too often trigger resistance and anxiety in the senior generation, who might respond with increasing control and suspicion to any tentative of challenging the status quo such as transforming current products, services, business models, or organizational structures. Successors operate at the intersection of these opposite forces of conservatism and reform, and one of their major issues is that they need to handle them effectively, that is without jeopardizing family relations and harmony nor losing themselves into the process. Unless they succeed in doing so, succession failure might follow. By combining two different streams of literature grounded in distinct disciplines, namely succession literature in family business and emancipation literature in entrepreneurship, we reveal successor emancipation as a novel explanation of why successions fail and offer some practical advice on how to handle these tensions in intra-family succession. Received: 10 May 2023 Accepted: 28 Jun 2023 https://bee.revistas.deusto.es/article/view/2755Successorintra-family successionemancipation |
| spellingShingle | Miruna RADU-LEFEBVRE Vincent Lefebvre I want to break free: Successor Emancipation in Family Business Boletín de Estudios Económicos Successor intra-family succession emancipation |
| title | I want to break free: Successor Emancipation in Family Business |
| title_full | I want to break free: Successor Emancipation in Family Business |
| title_fullStr | I want to break free: Successor Emancipation in Family Business |
| title_full_unstemmed | I want to break free: Successor Emancipation in Family Business |
| title_short | I want to break free: Successor Emancipation in Family Business |
| title_sort | i want to break free successor emancipation in family business |
| topic | Successor intra-family succession emancipation |
| url | https://bee.revistas.deusto.es/article/view/2755 |
| work_keys_str_mv | AT mirunaradulefebvre iwanttobreakfreesuccessoremancipationinfamilybusiness AT vincentlefebvre iwanttobreakfreesuccessoremancipationinfamilybusiness |