THE MANAGEMENT OF SUCCESSION STRATEGY - INTERGENERATIONAL CHALLENGE

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F49777513%3A23510%2F15%3A43927424" target="_blank" >RIV/49777513:23510/15:43927424 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

THE MANAGEMENT OF SUCCESSION STRATEGY - INTERGENERATIONAL CHALLENGE

Original language description

The successful management of a succession strategy is a big challenge for family businesses. According to a global PwC survey, only 16% of family businesses have a written succession plan. Others do not plan it at all, or they consider it as an act of personal transfer of the company from the founder to the successor. In the real practice, however, it is a process which requires the same discipline and objectivity as any other aspect of business decision-making. Succession is always an emotional matter, which is all the more reason why it should be approached professionally rather than individually. The paper aims to demonstrate that the management of succession strategy is a long-term process through the collection of the theoretical foundations of the issue and through provided case studies. The first part of the text defines the basic terminology and the second part presents the case studies focused on the real progress of successfully managed succession strategies. The third part opens the debate regarding the management of succession strategy and the attractiveness of the family business from the point of view of successor generation. The conclusion offers some examples of activities that lead to the acquisition of knowledge and experience, to the strengthening of the management skills which can prepare a successor to his future role. It appeals to the role of universities and their unique chance to participate in the process of training of existing owners of family businesses and their successors.

Czech name

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Czech description

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Type

J_x - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

CEP classification

AE - Management, administration and clerical work

OECD FORD branch

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Project

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Continuities

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Publication year

2015

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

AD ALTA: JOURNAL OF INTERDISCIPLINARY RESEARCH

ISSN

1804-7890

e-ISSN

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Volume of the periodical

5

Issue of the periodical within the volume

2

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

5

Pages from-to

69-73

UT code for WoS article

000373285900014

EID of the result in the Scopus database

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