The Intergenerational Succession of Leadership in the Family Business: The Change Succession Brings

This study focuses on leadership succession in family businesses, specifically examining the first-generation succession in six Slovenian manufacturing family enterprises. The authors introduce a novel perspective to studying this process by not limiting the analysis to the incumbent (IC)- successor (SR) dyad, but also integrating the family members' view in the research design. By employing a qualitative approach (i.e. a comparative case study that predominantly relies on interviews with all three studied groups) the authors collect rich data on attitudes, perceptions and expectations about succession in family businesses. The research highlights the crucial role of leadership succession in ensuring the longevity and sustainability of family businesses, as effective leadership transitions are vital for maintaining business continuity, preserving family values, and fostering the intergenerational transfer of both knowledge and entrepreneurial spirit. While ICs typically possess a range of attitudes towards succession- from proactive to reluctant-SRs generally approach the process with optimism and caution, driven by their personal needs and expectations. The attitudes of both ICs and SRs are influenced by contextual factors and psychosocial dynamics, which significantly affect the succession's initiation, leadership, and relational dynamics within the family. (c) CIKD Publishing