A study on the succession process of family-owned manufacturing businesses

This study looked into the succession experiences of two second-generation family corporations. It also compared and contrasted the experiences of both using four main points succession system, family system, business system and interplay of systems. This study used a quantitative case study method. In-depth interviews with family members were conducted. The study also utilized secondary sources and Beavers SFI Version 2. The results showed family and business systems were intertwined the values of the family were mirrored in how they do business. Healthy families showed respect and understanding for each other. They knew their roles and limitations in the business. As long as the family\u27s relationship was harmonious and the successors were competent, the business would be able to survive