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1 – 10 of over 5000Robin Bell and Thanh Trung Pham
The transfer of knowledge has been identified as an important part of the family business succession process. This paper examines the knowledge transfer process from the founder…
Abstract
Purpose
The transfer of knowledge has been identified as an important part of the family business succession process. This paper examines the knowledge transfer process from the founder to the successor to understand and model the factors that influence the knowledge transfer process in the Vietnamese family business context.
Design/methodology/approach
This research adopts an inductive qualitative approach, conducting face-to-face semi-structured interviews with five father-son succession pairs. The interviews with founders and successors, ten in total, formed the basis of five case studies. The cases were all at an advanced stage of the process of business knowledge transfer and family business succession.
Findings
A contextualized model was developed, highlighting the main factors that influence the knowledge transfer process from the founder to the successor in a Vietnamese family business context. This model identifies the influence of factors, some of which are not commonly presented in western family business literature. These include the importance of the role of the mother in mediating the relationship quality between the founder and the successor and the successor pursuing education and external work experience to improve their cognitive and reflective abilities. The need for the affinity between family members is also highlighted as important.
Originality/value
In Vietnam, most family-run businesses are still under the control of the founder. This research provides insight into the succession process in Vietnam. This research addresses calls for further exploration into the factors that influence the transfer of knowledge in the family business succession process and to research this process in a collectivist society, both of which remain under-researched.
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The purpose of this paper is to provide a model that can explain how organizations may retain their executives’ tacit knowledge in the organization especially during the…
Abstract
Purpose
The purpose of this paper is to provide a model that can explain how organizations may retain their executives’ tacit knowledge in the organization especially during the succession period. The proposed model takes into consideration three critical contexts that may assist in improving the knowledge flow during the transition period, namely, motivation context, transition context and ability context.
Design/methodology/approach
This paper presents a conceptual framework that emphasizes the importance of the will and skill of two parties involved in succession, i.e. the predecessor and successor, as well as the context of the succession. To this end, the paper advances a set of propositions that explain how these different contexts affect the quantity and quality of the knowledge acquired by the successor at the end of the succession period.
Findings
This paper advances a theoretical model that describes the antecedents and moderator of job-specific knowledge acquired during executive succession.
Research limitations/implications
This paper presents a theoretical model that explains knowledge flow during the transitory period of succession. It emphasizes the importance of the motivation and ability of the partners involved while taking into consideration the context of succession.
Practical implications
This paper contributes considerably and in a practical manner to managers in general and to human resource managers in particular. It draws the attention of concerned managers to check the motivation of both successor and predecessor in experiencing the transition, explain to the successors the job description of the position to direct their attention to learn specific knowledge and equip both parties involved in the succession with the needed skills.
Originality/value
This paper advances a new concept termed as accelerated engaged tacit knowledge acquisition. This concept complements other perspectives of knowledge flow and learning and takes into consideration the specific context of executive succession.
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Keywords
– The purpose of this paper is to broaden the understanding of family business succession as organizational knowledge creation process.
Abstract
Purpose
The purpose of this paper is to broaden the understanding of family business succession as organizational knowledge creation process.
Design/methodology/approach
The paper is built on organizational knowledge creation theory and reviews literature on family business succession. Four modes of knowledge conversion are followed to identify knowledge creation activities contributing to family business's knowledge base and to develop propositions.
Findings
Successful realization of succession depends not only on “traditional” knowledge creation activities of socialization and internalization, but as well as on active involvement of successor(s) in many aspects of business functioning. This contributes not only to widening successor(s) knowledge base but as well as to the firm's tacit and explicit knowledge triggering a new spiral of knowledge.
Research limitations/implications
The paper limits the research on leadership succession as one of the most challenging tasks in family business's life cycle. Moreover, research findings have implications for small- and medium-sized family businesses due to the strong preference of keeping the leadership within a family.
Practical implications
Propositions developed provide useful cognitions to professionals and stakeholders involved in succession process. If they understand the complexity of knowledge creation process, they can stand a better chance of improving the process of successor(s)’ development and leadership transfer in such a way that family business will have better chance to survive and progress after the transition.
Originality/value
The research provides a comprehensive framework of knowledge creation activities during succession thus indicating the requisitely holistic approach to succession from organizational knowledge creation perspective. The study contributes to the organizational knowledge creation theory and the succession theory.
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Thanh Trung Pham, Robin Bell and David Newton
Many family businesses do not survive into the second generation. A common reason put forward for this is poor succession planning for the second generation. This paper is…
Abstract
Purpose
Many family businesses do not survive into the second generation. A common reason put forward for this is poor succession planning for the second generation. This paper is designed with the aim to explore the role of the father in supporting the son’s business knowledge and development in Vietnamese family businesses.
Design/methodology/approach
This research adopted an inductive qualitative approach using multiple face-to-face semi-structured interviews with five father–son succession pairs. The interview participants were a cross section of Vietnamese family businesses, where the father–son pair was involved in the process of business knowledge transfer and the succession process was at an advanced stage.
Findings
The results suggest that the father plays different roles at different stages of the son’s business knowledge development process. In particular, the father acts as an example during the son’s childhood; a supporter to encourage the son to gain more business knowledge from both formal education and working experience outside the family business; a mentor and trouble-shooter after the son joins the family business as a full-time employee; and as an advisor after the son becomes the leader of the firm.
Originality/value
Most Vietnamese family businesses are still operating under the control of the first generation, and as a result, research into the succession process in Vietnam can help to provide valuable insights. Furthermore, existing research into the role of the predecessor in the whole process from the successor’s childhood until the end of the succession process is ambiguous and requires further research to clarify this research gap.
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Bingbing Ge and Giovanna Campopiano
This paper aims to review the literature on knowledge management in the family business, addressing the research question as follows: “How is knowledge managed across generations…
Abstract
Purpose
This paper aims to review the literature on knowledge management in the family business, addressing the research question as follows: “How is knowledge managed across generations in the family business?” This study synthesizes the literature, highlighting the role of multiple stakeholders who affect knowledge management along with the phases of the succession process. Stemming from these findings and embracing a practice-based view, this paper offers research directions to guide future contributions on knowledge construction in the family business. The purpose of this study is not only to conclude the previous research but also to provide insights for future research directions and to provide practical implications.
Design/methodology/approach
Through a systematic integrative literature review, this paper collects map and analytically examine 63 published peer-reviewed articles related to knowledge management in the family business from 39 academic journals. This paper applies a rigorous approach to identify the sample of articles, map descriptive information of the reviewed literature and map theoretical contributions according to a multi-stakeholder and multi-stage framework.
Findings
The sampled articles are analyzed according to a multi-stakeholder and multi-stage framework inspired by Daspit et al. (2016). This study identifies critical gaps emerging from the analysis, thus opening the way to future research directions. In particular, this paper prompts scholars to advance the understanding of family-related knowledge and to clarify the assumptions on knowledge in their research.
Research limitations/implications
This paper contributes to the debate on knowledge management in the family business, by systematizing the current literature. In addition, this study embraces a “knowledge from practice perspective” and offers research directions to guide future contributions on knowledge construction in family business succession and potential areas to further management research investigating the role of family-related knowledge. Practical implications are also provided to benefit family businesses, consultants and policymakers.
Originality/value
This study provides a systematic integrative literature review of the articles published on knowledge management in family business according to a multi-stakeholder and multi-stage framework. Moreover, it draws an agenda for future research advancing a “knowledge from a practice perspective” in the family business literature.
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Hossein Samei and Alireza Feyzbakhsh
Previous research indicates that a high percentage of family firms are not able to transfer to the next generation. This is, for the most part, due to poor succession. In this…
Abstract
Purpose
Previous research indicates that a high percentage of family firms are not able to transfer to the next generation. This is, for the most part, due to poor succession. In this regard, the competency of the predecessor in nurturing a competent successor is a central issue. The purpose of this paper is to identify the predecessor competencies required to nurture a successor.
Design/methodology/approach
The research applied a qualitative research methodology with a case study approach, whereby five large Iranian family firms which have maintained superior performance across generations were studied.
Findings
The findings indicated that predecessor competencies required for successor nurturing are open-mindedness, risk-taking, patience, explicitness, motivation, trustworthiness, communicative skills, and value orientation. Cross-case analysis also revealed that successor attributes and family attributes influence the importance of the predecessor’s competencies.
Originality/value
The literature suggests a number of attributes that predecessors require for nurturing the successor in family firms. However, previous studies have proven to be weak in doing a systematic study, from a competency-based approach, to find the required predecessor competencies based on the methods used to nurture the successor. Therefore, this research would be helpful in explaining the predecessor’s required competencies for nurturing the successor.
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Peng Ren, Isabel C. Botero and James O. Fiet
Although succession planning can be important for the continuity of family firms, not all family business have the opportunity to engage in this planning. Sometimes, these…
Abstract
Purpose
Although succession planning can be important for the continuity of family firms, not all family business have the opportunity to engage in this planning. Sometimes, these organizations face crisis events that may trigger an intra-family succession. However, what happens when there is an unplanned succession? Are family businesses doomed to fail? This project aims to explore unplanned successions that are triggered by crisis and the impact that this can have on post-succession financial performance. The authors also examine the moderating role of successor characteristics (i.e. education and previous work experience) on this relationship.
Design/methodology/approach
The ideas were tested using data from 151 publicly listed family firms in China.
Findings
The findings indicate that having a crisis driven intra-family succession does not always result in lower post-succession performance. It is only successions that are triggered by market crises that negatively impact financial performance after the unplanned succession. In these instances, the education and previous experience of the successor moderate the negative relationship between market crisis succession and financial performance such that having more experience and a college education diminishes these negative effects on performance.
Practical implications
The results point to the importance of the preparation of the next generation in helping family firms navigate unplanned successions. The findings indicate that education and previous work experience of the successor can help a family firm manage a crisis.
Originality/value
This study continues to build the understanding about unplanned successions and the important role that successor preparation can have for the success of the family firm.
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Emma Su and Joshua Daspit
The literature related to knowledge management (KM) is robust with respect to insights regarding firms in general. However, less is known about the KM of family firms despite…
Abstract
Purpose
The literature related to knowledge management (KM) is robust with respect to insights regarding firms in general. However, less is known about the KM of family firms despite these firms being the most common form of business organization worldwide. Further, even though the number of studies examining family-firm KM has increased in recent years, the insights gained remain fragmented. Therefore, the purpose of this study is to help coalesce and advance the study of family-firm KM.
Design/methodology/approach
In pursuit of these goals, a systematic literature review was conducted. Using a 6-step, systematic literature review protocol, 74 articles focused on family-firm KM published in 23 journals were identified and reviewed.
Findings
This literature review contributes to the synthesis and advancement of family-firm KM scholarship in several ways. First, key factors and relationships are identified and integrated into a robust framework. Second, scholarly insights are synthesized, and a review of the primary antecedents, outcomes and moderating factors associated with family-firm KM processes is presented. Third, promising opportunities for future research are highlighted to advance family-firm KM scholarship.
Originality/value
With a focus on reducing the fragmentation in the literature, this review synthesizes insights related to the most commonly studied antecedents, outcomes and moderators associated with family-firm KM. Additionally, antecedents are organized and reviewed according to the nature of their influence on family-firm KM processes, highlighting the simultaneous opposite effects of some influences. Further, key outcomes are synthesized based on their family versus firm-centric orientation. Even further, insights and opportunities focused on advancing the theory, antecedents, outcomes, moderators and other issues related to family-firm KM are presented in an effort to support the continued progress of scholarship in this area.
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Thanh-Thao Luong, Cat-My Dang and Que Nguyet Tran
This study aims to identify various factors that have driven the knowledge transfer process for succession purposes in family business since the 1920s and discuss their…
Abstract
Purpose
This study aims to identify various factors that have driven the knowledge transfer process for succession purposes in family business since the 1920s and discuss their implications for advancing effective succession planning in this business sector for the next 100 years.
Design/methodology/approach
The paper reviews and synthesizes current research on knowledge transfer drivers in family business from 1923 to 2023 and draws out future perspectives on what will influence the knowledge-transferring process in the next 100 years.
Findings
Trust, organizational culture and environmental factors such as the need to create competitive advantages, technological advancement and new sources of knowledge have been identified as the most prominent drivers of knowledge transfer for effective succession in family business throughout the 1920–2020s. In the future, the ability to create value, the internationalization process and business innovations will play an essential role in knowledge-sharing among family and non-family members during succession.
Originality/value
The paper provides a review of past development and a future perspective on factors enhancing the effectiveness of knowledge transfer for succession in family firms.
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Drawing on the theory of planned behaviour, this research aims to investigate systemically if and how incumbents and successors share attitudes, social norms and perception of the…
Abstract
Purpose
Drawing on the theory of planned behaviour, this research aims to investigate systemically if and how incumbents and successors share attitudes, social norms and perception of the feasibility of their business succession.
Design/methodology/approach
Qualitative research carried out on a group of small Italian family firms (N = 10).
Findings
This study provides evidence of background mechanisms (attitudes, social norms and perception of feasibility) affecting the implementation of business succession planning in family SMEs. Moreover, this study provides further evidence supporting the role of social norms in strategic decision-making processes within family firms.
Research limitations/implications
Findings from this study contribute to current literature in multiple ways and have several research implications.
Practical implications
This study highlights that it is more appropriate to adopt a systemic rather than an individualistic approach in investigating/managing business succession.
Social implications
Family firms are the most widespread type of firms in the world; thus, a systematic failure in business transmission represents a prominent socioeconomical problem for policy-makers and institutions.
Originality/value
This study leads to further developments in exploring business succession from a psychological point of view. Findings also highlight the limits of how a theory applied in order to predict individual behaviour can provide insight into collective behaviour involving a family.
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