<p> This qualitative phenomenological study explored the various experiences and understandings of the key differentiators that predict family-owned businesses’ success from the first generation to the third generation. The sample used in this study consisted of ten public family-owned businesses and ten private family-owned businesses. The study utilized open-ended interviews and empirical research to identify relevant themes, trends and relationships. Three clusters of themes emerged: growth, entitlement and differentiation. The study identified those concepts that would explain the historical trajectory of the public and private family-owned companies. Leadership continuity drives succession planning, and leadership is the starting point for successor training, education, and development. The continued survival and growth of the organization depend on employing the right people, in the right position, at the right time. The future of succession planning is an important issue for all firms due to demographic factors, such as the rising number of employees reaching retirement age and the dwindling number of younger workers replacing them.</p>
| Identifer | oai:union.ndltd.org:PROQUEST/oai:pqdtoai.proquest.com:10172745 |
| Date | 14 October 2016 |
| Creators | Caldwell, Harry J. |
| Publisher | University of Phoenix |
| Source Sets | ProQuest.com |
| Language | English |
| Detected Language | English |
| Type | thesis |
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