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The Challenges of Succession Plannin...

Whitman-Rector, Amy M.

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The Challenges of Succession Planning for Small Family-Owned Businesses: A Qualitative Descriptive Case Study.

Record Type:	Electronic resources : Monograph/item
Title/Author:	The Challenges of Succession Planning for Small Family-Owned Businesses: A Qualitative Descriptive Case Study./
Author:	Whitman-Rector, Amy M.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2024,
Description:	178 p.
Notes:	Source: Dissertations Abstracts International, Volume: 85-11, Section: B.
Contained By:	Dissertations Abstracts International85-11B.
Subject:	Home economics. -
Online resource:	https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=31240608
ISBN:	9798382331232

The Challenges of Succession Planning for Small Family-Owned Businesses: A Qualitative Descriptive Case Study.
Whitman-Rector, Amy M.

The Challenges of Succession Planning for Small Family-Owned Businesses: A Qualitative Descriptive Case Study. - Ann Arbor : ProQuest Dissertations & Theses, 2024 - 178 p.

Source: Dissertations Abstracts International, Volume: 85-11, Section: B.

Thesis (D.B.A.)--University of Phoenix, 2024.

When the owner of a small, family-owned business is ready to retire, the owner would ideally transition the ownership and operation of the business to the next generation. The assumption is that these successions will be executed smoothly. The problem is that family-operated small business owners are not carrying out comprehensive succession planning activities, facing coaching, generational, and operational sustainability challenges, resulting in the closure of these organizations within one year of a possible transition to other family members. A descriptive case study involving interviews and focus groups with 19 family-owned small business owners with fewer than 100 employees and located in Bexar County, Texas, was conducted to develop an understanding of the perceptions of the business owners concerning succession planning activities. Data was analyzed with thematic analysis. The study analysis resulted in 12 themes, three of them significant: family dynamics, trust in the successor, and struggles with letting go. The research reflected a perspective from family-owned small business owners that trust in the successor will determine the business owner's ability to successfully coach junior family members in planning for succession. Additionally, the dynamics within the family will indicate the owner's perception of generational differences will have in developing a succession planning strategy. Finally, family-owned small business owners perceive a successor's inability to develop, manage, and grow the business and the business owner's inability to let the business go as the greatest operational sustainability challenge in succession planning.

ISBN: 9798382331232Subjects--Topical Terms:

551902
Home economics.
Subjects--Index Terms:

Family business

The Challenges of Succession Planning for Small Family-Owned Businesses: A Qualitative Descriptive Case Study.
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