Family businesses are prevalent in South Africa and throughout the world. Succession is one of the largest challenges facing family businesses. It has been estimated that only one third of family businesses survive to the second generation. This study attempts to determine what the main features are to promote successful family business succession and continuity. The family chosen for this research is the Venter family. The research has scaled the various influencing variables from the literature review into the following focus areas: relationships, conflict, vision, effective succession characteristics and continuity. The findings reflect many instances found in the literature, some are: individuals can manage themselves and have relationships with others; have the ability to resolve conflicts; have mutual support and trust; there is respect between the founder and successor; the business vision is clear; communication is open and clear and decisions are based on expertise and knowledge. Many other aspects are highlighted in the research that follows. In addition, the study attempts to identify the generational effects, the major characteristics of the family owned succession process and the views of the predecessors on the succession process and the post succession period.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:nmmu/vital:8771 |
| Date | January 2012 |
| Creators | Fox, Roderick Charles |
| Publisher | Nelson Mandela Metropolitan University, Faculty of Business and Economic Sciences |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis, Masters, MBA |
| Format | iii, 120 leaves, pdf |
| Rights | Nelson Mandela Metropolitan University |
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