Understanding Generational Succession challenges in German Family Businesses

Inhaltsverzeichnis (Table of Contents)

• Introduction and statement of research question
• Literature review of key literature
  • The succession process
  • The role of the founder
  • The role and perspective of the next generation
  • The need for succession analysis
  • Best practice
• Discussion of and resolution of qualitative vs. quantitative approaches to the research

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This research aims to explore the key generational challenges faced by German Family Businesses and their potential impact on the businesses’ risk of failure.

• The critical role of leadership succession in family-owned businesses
• The challenges of transitioning leadership between generations in family businesses
• The potential for conflicts between family and business interests in succession planning
• The importance of knowledge transfer and preserving 'familiness' in family businesses
• The influence of external investors on succession processes in family businesses

Zusammenfassung der Kapitel (Chapter Summaries)

The first chapter introduces the research question, highlighting the challenges of generational succession in family businesses, particularly in Germany. The chapter emphasizes the critical nature of this process for the success of the business, citing statistics on the low survival rates of family businesses beyond the second generation. The second chapter provides an extensive literature review, analyzing key factors influencing the success of succession planning. It delves into five crucial areas: the succession process itself, the role of the founder, the perspective of the next generation, the need for multi-level analysis, and best practices in succession planning. The chapter also emphasizes the importance of tacit knowledge transfer and the concept of 'familiness' in maintaining a family business's competitive advantage. The third chapter discusses the research methodology, specifically the decision to use qualitative or quantitative data. The chapter highlights the benefits of qualitative research in achieving a deeper understanding of the data and its specific meaning.

Schlüsselwörter (Keywords)

This research explores the topic of generational succession in German Family Businesses, analyzing the challenges, risks, and strategies associated with this crucial process. The study focuses on key themes such as leadership succession, family dynamics, knowledge transfer, 'familiness,' and the role of external investors.