When the Successor Becomes the True Leader of a Family Business?
Objective: The aim of presented paper is to try to answer to the questions: what are the factors that facilitate or inhibit the process of becoming the leader for international family business, and what are the major successor's characteristics enabling successor to be a true leader of international family business? Research Design & Methods: The in-depth interview method was used. Findings: Successor's characteristics such as: integrity, commitment to the family and family business, ability to command the respect of the personnel, decisiveness and interpersonal skills, proved to be relevant. Contribution & Value Added: With the study, author aim to contribute to a better understanding of factors connected with successor's passage from manager to leader in international family business. the successors need to feel responsibility for the family. Secondly, he/she should has the deciding power in some part of the business. As case study shows, conflicts and interactions between family members, when well-managed, might be source of new ideas and solutions. Next to qualifications and constant learning and improving skills, there is also a need for being open minded and ready to change. (original abstract)
- Ali, Z., & Mehreen, A. (2019). Understanding succession planning as a combating strategy for turnover intentions. Journal of Advances in Management Research, 16(2), 216-233.
- Banalieva, E.D., & Eddleston, K.A. (2011). Home-region focus and performance of family firms: the role of family vs non-family leaders. Journal of International Business Studies, 42(8), 1060-1072.
- Bednarz, J., Bieliński, T., Nikodemska-Wolowik, A.M., & Otukoya, A. (2017). Sources of the Com-petitive Advantage of Family Enterprises: An International Approach Focusing on China, Nige-ria and Poland. Entrepreneurial Business and Economics Review, 5(2), 123-142.
- Bell, R., & Pha, T.T. (2020). Modelling the knowledge transfer process between founder and successor in Vietnamese family businesses succession. Journal of Family Business Management, ahead-of-print.
- Bozer,G. Levin,L., & Santora, J. (2017). Succession in family business: multi-source perspective. Journal of Small Business and Enterprise Development, 24(4), 753-774, doi.org/10.1108/JSBED-10-2016-0163.
- Cabrera-Suárez, K., De Saá-Pérez, P., & García-Almeida, D. (2001). The succession process from a resource- and knowledge-based view of the family firm. Family Business Review, 14 (1), 37-46.
- Campbell, K., & Jerzemowska, M. (2017). Contested takeovers of family firms and socioemotional wealth: a case study. Baltic Journal of Management, 12 (4), 447-463.
- Carpenter, M.A., Geletkanycz, M.A., & Sanders, W.G. (2004). Upper echelons research revisited: Antecedents, elements, and consequences of top management team composition. Journal of Management, 30(6), 749-778, doi.org/10.1016/j.jm.2004.06.001.
- Chrisman, J.J., Chua, J.H., Kellermanns, F.W., & Chang, E.P.C. (2007). Are family managers agents or stewards? An exploratory study in privately held family firms. Family Influences on Firms, 60(10), 1030-1038.
- Corbetta, G., & Salvato, C. (2004). Self-serving or self-actualizing? Models of man and agency costs in different types of family firms: A commentary on "Comparing the agency costs of family and non-family firms: Conceptual issues and exploratory evidence. Entrepreneurship: Theory & Practice, 28(4), 355-362.
- Cromie, S., Stevenson, B., & Monteith, D. (1995), The management of family firms: An empirical investigation.International Small Business Journal, I3(4), 11-34.
- Davidsson, P., Achtenhagen, L., & Naldi, L. (2010). Small firm growth. Foundations and Trends in Entrepreneurship, 6(2), 69-166.
- Davis, J.H., Schoorman, F.D., & Donaldson, L., (1997). Toward a stewardship theory of manage-ment. Academy of Management Review, 22(1), 20-47.
- Davis, P.S., & Harveston, P.D. (1998). The influence of the family on the family business succession process: A multigenerational perspective. Entrepreneurship Theory and Practice, 22(3), 31-53.
- Decker, C., Heinrichs, K., Jaskiewicz, P., & Rau, S.B. (2017). What do we know about succession in family businesses? Mapping current knowledge and unexplored territory. In F.W.Kellermanns & F. Hoy,(Eds.), The Routledge Companion to Family Business (pp. 15-44). Routledge.
- Doern, R. (2009). Investigating barriers to SME growth and development in transition environ-ments. International Small Business Journal, 27(3), 275-305.
- Drakopoulou Dodd, S., & Dyck, B. (2015). Agency, stewardship, and the universal-family firm: a qualitative historical analysis. Family Business Review, 28(4), 312-331.
- Dunn, B. (1995). Success themes in Scottish family enterprises: Philosophies and practices through generations. Family Business Review, 8, 17-28.
- Dzwigol-Barosz, M. (2019). Prerequisites for successful succession in family company according to its successor. Managerial Economics, 19(2),1-5, doi:https://doi.org/10.7494/manage.2018.19.2.169
- Eddleston, K.A., & Kellermanns, F.W. (2007) Destructive and productive family relationships: A stewardship theory perspective. Journal of Business Venturing, 22(4), 545-565.
- Ensley, M.D., & Pearson, A.W. (2005), An exploratory comparison of the behavioral dynamics of top management teams in family and nonfamily new ventures: cohesion, conflict, potency, and consensus. Entrepreneurship Theory and Practice, 29 (3), 267-284.
- Fang, H.C., Randolph, R.V.D.G., Memili, E., & Chrisman, J.J. (2015). Does size matter? The moder-ating effects of firm size on the employment of nonfamily managers in privately held family SMEs. Entrepreneurship Theory and Practice, 40 (5), 1017-1039.
- Gómez-Mejía, L. R., Haynes, K. T., Núñez-Nickel, M., Jacobson, K. J. L., and Moyano- Fuentes, J., (2007). Socioemotional wealth and business risks in family-controlled firms: Evidence from Spanish olive oil mills. Administrative Science Quarterly, 52(1), 106-137.
- Graves, C., & Thomas, J. (2008). Determinants of the internationalization pathways of family firms: An examination of family influence. Family Business Review, 21 (2), 151-167.
- Hadryś-Nowak, A. (2018). Family Entrepreneurship Orientation in Family Owned SMEs: A Key Resource for Internationalization? Entrepreneurship Business and Economics Review, 6(2), 153-169.
- Hambrick, D. (2007). Upper echelons theory: An update. Academy of Management Review, 32(2), 334-343.
- Hambrick, D.C., & Mason, P. (1984). Upper echelons: The organization as a reflection of its top managers. Academy of Management Review, 9(2), 193-206.
- Handler, W.C. (1994). Succession in family business: a review of the research. Family Business Review, 7 (2), 133-157.
- Ibrahim, A. B., & Ellis, W. (2003). Family business management, concepts and practices. Ken-dall/Hunt.
- Jensen, M.C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
- Klein, S.B. (2007). Non-family executives in family businesses - A literature review. Electronic Journal of Family Business Studies (EJFBS), 1(1), 1796-9360.
- Kraus, S., Märk, S., & Peters, M., (2011). The influences of family on the everyday business of a family firm entrepreneur. International Journal of Entrepreneurship and Small Business, 12(1), 82-100.
- Le Breton-Miller, I., Miller, D., & Lester, R. H. (2011). Stewardship or agency? A social embed-dedness reconciliation of conduct and performance in public family businesses. Organization Science, 22(3), 704-721.
- Lewandowska A., Więcek-Janka E., & Hadryś-Nowak A. (2017). Raport z badania: Firma Rodzinna to Marka. Instytut Biznesu Rodzinnego.
- Liu, J. (2018). Successors' Characteristics, Preparation, Innovation, and Firm Performance: Taiwan and Japan. International Business Research, 11(9), 1-12.
- Loane, S., Bell, J.D., & McNaughton, R. (2007), A cross-national study on the impact of manage-ment teams on the rapid internationalization of small firms. Journal of World Business, 42(4), 489-504.
- Martin, W.L., & Lumpkin, G.T. (2004). From entrepreneurial orientation to family orientation: Generational differences in the management offamily businesses. Frontiers of entrepreneur-ship research. Wellesley, MA: Babson College.
- Menéndez-Requejo, S. (2005). Growth and internationalization of family businesses. International Journal of Globalisation and Small Business, 1, 122-133.
- Morck, R., & Yeung, B., (2003). Agency problems in large family business groups. Entrepreneur-ship: Theory & Practice, 27(4), 367-382.
- Morris, M.H., Williams, R.O., Allen, J.A., & Avila, R.A. (1997). Correlates of success in family busi-ness transitions. Journal of Business Venturing, 12 (5), 385-401.
- Pierce, J.L., Kostova, T., & Dirks, K.T. (2001). Toward a theory of psychological ownership in organi-zations. Academy of Management Review, 26(2), 298-310.
- Reid, R., Dunn, B., Cromie, S., & Adams, J. (1999). Family Orientation in family firms: A model and some empirical evidence. Journal of Small Business and Enterprise Development, 6(1), 55-66.
- Schulze, W.S., Lubatkin, M.H., & Dino, R.N (2003). Toward a theory of agency and altruism in family firms. Journal of Business Venturing, 18(4), 473-490.
- Sharma, P. (2004). An overview of the field of family business studies: Current status and direc-tions for the future. Family Business Review, 17(1), 1-36.
- Shukla, P.P. Carney, M., & Gedajlovic, E. (2014). Economic theories of family firms. In L. Melin, M. Nordqvist, & P. Sharma (Eds.), Sage Handbook of Family Business Studies Thousand Oaks (pp. 100-118). Sage Publications Ltd.
- Schwartz, M. (2018). Wave of successions in German SMEs: 240,000 successors wanted by 2019, KfW Research Focus on Economics, 197.
- Vera, C.F., & Dean, M.A. (2005). An examination of the challenges daughters face in family busi-ness succession. Family Business Review,18 (4), 321-345.
- Wach, K. (2017). Exploring the Role of Ownership in International Entrepreneurship: How does Ownership Affect Internationalisation of Polish Firms?. Entrepreneurial Business and Eco-nomics Review, (4), 205-224. https://doi.org/10.15678/EBER.2017.050410
- Więcek-Janka, E., & Hadryś-Nowak, A. (2016). Kompetencje sukcesorskie - profil wstępny. Przed-siębiorczość i Zarządzanie, XVII (6) cz. III, 61-72.