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Der Anteil der externen Nachfolge bei eigentümergeführten bzw. Familienunternehmen nimmt stetig zu. Eine Möglichkeit ist dabei ein Management-Buy-In, bei dem ein externer Manager die Position des Altinhabers übernimmt. In einer solchen Situation kann die Nachfolge in Form einer Relay Succession erfolgen, eine zeitlich gestaffelte Übergabe vom alten an den neuen Inhaber. In dieser Arbeit werden die Relay Succession, ihre Vor- und Nachteile, relevante Einflussfaktoren und Prozessempfehlungen in qualitativen Fallstudien untersucht.

Diploma thesis aims to describe the current state of the Private Equity financing in the Czech Republic. This issue is viewed from two angles. The first part is devoted to macro-economic assessment of the current state of Private Equity in the Czech Republic. It aims to describe the current situation, compare it to economies with a developed private equity market and to draw recommendations that will lead to further development of private equity in our country. The focus of the second part is to characterize the Private Equity market from a microeconomic perspective. It aims to describe the functioning of the Private Equity market at the level of individual entities, the business model and analyze and compare the investment strategies of General Partners operating in the Czech Republic.

Der Anteil der externen Nachfolge bei eigentümergeführten bzw. Familienunternehmen nimmt stetig zu. Eine Möglichkeit ist dabei ein Management-Buy-In, bei dem ein externer Manager die Position des Altinhabers übernimmt. In einer solchen Situation kann die Nachfolge in Form einer Relay Succession erfolgen, eine zeitlich gestaffelte Übergabe vom alten an den neuen Inhaber. In dieser Arbeit werden die Relay Succession, ihre Vor- und Nachteile, relevante Einflussfaktoren und Prozessempfehlungen in qualitativen Fallstudien untersucht.:Vorwort … II Inhaltsverzeichnis … III Abbildungsverzeichnis … VIII Tabellenverzeichnis … IX Abkürzungsverzeichnis … X 1 Einleitung … 1 2 Management-Buy-In bei eigentümergeführten Unternehmen … 6 2.1 Definition eigentümergeführter Unternehmen und Familienunternehmen in dieser Untersuchung … 7 2.2 Wirtschaftliche Bedeutung … 9 2.3 Bedeutung des Geschäftsführers und seiner Nachfolge … 13 2.4 Externe Nachfolge in eigentümergeführten Familienunternehmen … 16 3 Aktuelle Forschung … 27 3.1 Rahmengebende Forschungsfelder … 28 3.2 Zusammenfassende Beurteilung der theoretischen Grundlagen … 66 4 Untersuchungsmethode und empirische Betrachtung … 80 4.1 Qualitativer Fallstudienansatz … 80 4.2 Selektion und Akquirierung von Fallstudienkandidaten … 85 4.3 Interviewführung und fortlaufende Auswertung … 89 4.4 Datenanalyse und Hypothesengenerierung … 97 4.5 Sicherstellung der Reliabilität und Validität der Fallstudienuntersuchung … 102 5 Beschreibung und individuelle Beurteilung („within analysis“) der Fallstudien … 107 5.1 Fallstudie Fenster … 107 5.2 Fallstudie Karton … 114 5.3 Fallstudie Kunststoff … 121 5.4 Fallstudie Logistik … 131 5.5 Fallstudie Medizin … 140 5.6 Fallstudie Metall … 147 5.7 Fallstudie Möbel … 157 5.8 Fallstudie Netzwerk … 166 5.9 Fallstudie Präsentation … 174 5.10 Fallstudie Zahn … 181 6 Übergreifende Diskussion („cross-case analysis“) … 188 6.1 Ergebnisse … 189 7 Fazit … 241 7.1 Zusammenfassung … 241 7.2 Implikationen für die Praxis … 243 7.3 Einschränkungen und Grenzen … 247 7.4 Zukünftiger Forschungsbedarf … 249 A Appendix … A-I Literaturverzeichnis … A-XLIX

One of Sweden’s most well known monopolies is approaching its end, Apoteket AB. A re-regulation of a state owned monopoly is nothing new but it happens within an interesting trade. Since the government is in total control of the whole re-regulation process, we found it interesting to see how they managed to include the potential individuals who want to take over a pharmacy. After all, many are the times the government has emphasized the importance of small firms. Out of the approximately 900 pharmacies owned by Apoteket AB, 150 are going to be sold to individuals. This group is called “small enterprise cluster”, and this cluster became the focus of our thesis. We wanted to get an insight into this group, since it is more complex and diverse compared to the large corporations entering the market. Purpose The purpose of this thesis is to measure the willingness to take over pharmacies among the employees of Apoteket AB, as well as to analyse how the government's support has affected the decisions of individuals. Method In order to get a good view of the re-regulation process we chose a qualitative approach, where we performed personal interviews with 6 respondents equally spread out on 3 pharmacies in a medium sized Swedish city and the surrounding area. The interviews where performed in a semi-structured manner. Besides the primary data, secondary data was collected. It builds the foundation for the theoretical framework and the analysis of the interviews. Since the theoretical framework was created before the research was performed, the study used a deductive research approach.

<p>One of Sweden’s most well known monopolies is approaching its end, Apoteket AB. A re-regulation of a state owned monopoly is nothing new but it happens within an interesting trade. Since the government is in total control of the whole re-regulation process, we found it interesting to see how they managed to include the potential individuals who want to take over a pharmacy. After all, many are the times the government has emphasized the importance of small firms.</p><p>Out of the approximately 900 pharmacies owned by Apoteket AB, 150 are going to be sold to individuals. This group is called “small enterprise cluster”, and this cluster became the focus of our thesis. We wanted to get an insight into this group, since it is more complex and diverse compared to the large corporations entering the market.</p><p><strong>Purpose</strong></p><p>The purpose of this thesis is to measure the willingness to take over pharmacies among the employees of Apoteket AB, as well as to analyse how the government's support has affected the decisions of individuals.</p><p><strong>Method</strong></p><p>In order to get a good view of the re-regulation process we chose a qualitative approach, where we performed personal interviews with 6 respondents equally spread out on 3 pharmacies in a medium sized Swedish city and the surrounding area. The interviews where performed in a semi-structured manner.</p><p>Besides the primary data, secondary data was collected. It builds the foundation for the theoretical framework and the analysis of the interviews. Since the theoretical framework was created before the research was performed, the study used a deductive research approach.</p>