<p>Abstract</p><p>Problem According to previous research a successful succession requires a long-term plan. This is since the main problem causing companies to fail in succes-sions is seen to be the absence of planning, or that planning is not done well enough. But when the next generation is found outside the family or the family business, the succession is done quite fast, so long-term planning in advance does not seem to be that important after all. Therefore I question the importance of long-term planning, and what it includes, since I believe the outcome is decided by several interacting factors, and not by one alone.</p><p>Purpose The purpose with this thesis is to contribute to the debate concerning the need of long-term preparation before transitions of family businesses are done. This is done by comparing the characteristics of two successful suc-cession processes. One is a family business that has undertaken a shift within the family, and the other is a family business that has been sold ex-ternally. It will also take into account the kind of advices that comes from interviews with representatives of one bank and two audit firms, in order to find out their general view of the process.</p><p>Method This study was conducted through a qualitative method. The data was col-lected by interviewing representatives from two family businesses that have undertaken successions. In addition data was collected from representatives from one bank, and two audit firms. The characteristics in the data from these interviews have been compared to each other, and also to literature and research within the subject.</p><p>Conclusion Based on this study, I believe a view that takes into account all aspects is needed, since all aspects are equal important when a company undertakes a succession. As a result of this, long-term planning should not be seen as an aspect more important than any other. From the ancestors´ point of view long-term planning is foremost about how well-prepared the succession of the company has been, and the time until the succession is done. Long-term planning seen from the successors´ view is the time from when the succes-sion is done, and forward. This includes for example how the handing over process should be done, and how to secure that important knowledge stays within the company.</p>

Abstract Problem According to previous research a successful succession requires a long-term plan. This is since the main problem causing companies to fail in succes-sions is seen to be the absence of planning, or that planning is not done well enough. But when the next generation is found outside the family or the family business, the succession is done quite fast, so long-term planning in advance does not seem to be that important after all. Therefore I question the importance of long-term planning, and what it includes, since I believe the outcome is decided by several interacting factors, and not by one alone. Purpose The purpose with this thesis is to contribute to the debate concerning the need of long-term preparation before transitions of family businesses are done. This is done by comparing the characteristics of two successful suc-cession processes. One is a family business that has undertaken a shift within the family, and the other is a family business that has been sold ex-ternally. It will also take into account the kind of advices that comes from interviews with representatives of one bank and two audit firms, in order to find out their general view of the process. Method This study was conducted through a qualitative method. The data was col-lected by interviewing representatives from two family businesses that have undertaken successions. In addition data was collected from representatives from one bank, and two audit firms. The characteristics in the data from these interviews have been compared to each other, and also to literature and research within the subject. Conclusion Based on this study, I believe a view that takes into account all aspects is needed, since all aspects are equal important when a company undertakes a succession. As a result of this, long-term planning should not be seen as an aspect more important than any other. From the ancestors´ point of view long-term planning is foremost about how well-prepared the succession of the company has been, and the time until the succession is done. Long-term planning seen from the successors´ view is the time from when the succes-sion is done, and forward. This includes for example how the handing over process should be done, and how to secure that important knowledge stays within the company.