Successful implementation of succession planning: second generation
- Authors: Fox, Roderick Charles
- Date: 2012
- Subjects: Family-owned business enterprises -- Succession , Family corporations -- Management
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8771 , http://hdl.handle.net/10948/d1012445 , Family-owned business enterprises -- Succession , Family corporations -- Management
- Description: Family businesses are prevalent in South Africa and throughout the world. Succession is one of the largest challenges facing family businesses. It has been estimated that only one third of family businesses survive to the second generation. This study attempts to determine what the main features are to promote successful family business succession and continuity. The family chosen for this research is the Venter family. The research has scaled the various influencing variables from the literature review into the following focus areas: relationships, conflict, vision, effective succession characteristics and continuity. The findings reflect many instances found in the literature, some are: individuals can manage themselves and have relationships with others; have the ability to resolve conflicts; have mutual support and trust; there is respect between the founder and successor; the business vision is clear; communication is open and clear and decisions are based on expertise and knowledge. Many other aspects are highlighted in the research that follows. In addition, the study attempts to identify the generational effects, the major characteristics of the family owned succession process and the views of the predecessors on the succession process and the post succession period.
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- Date Issued: 2012
The role of governance: family owned butchery
- Authors: Farndell, Mark
- Date: 2010
- Subjects: Family-owned business enterprises -- South Africa , Family-owned business enterprises -- Management , Family-owned business enterprises -- Succession , Corporate governance -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8588 , http://hdl.handle.net/10948/1509 , Family-owned business enterprises -- South Africa , Family-owned business enterprises -- Management , Family-owned business enterprises -- Succession , Corporate governance -- South Africa
- Description: The importance of SME family businesses is evident in society. Coming out of a recession, the innovation, labour absorption and employment creation capabilities of SMEs and family businesses globally, and in emerging economies with high levels of unemployment and poverty, is incredibly important for environmental sustainability and societal harmony. Good governance is empirically proven to improve long-term sustainability of organisations, and poor governance is linked to the demise of many businesses – large and small, family and non-family businesses alike. This research, by means of a thorough literature review of family business and governance, and a single in-depth case study, identifies the components of SME family business governance in a contextual setting in South Africa. The literature review defines SMEs, family businesses and corporate governance. It reviews the nuances of family businesses that make them distinctive from non-family businesses, the models of family businesses that have been developed over time, the approaches to corporate governance, corporate governance codes of conduct, and family business governance models, as well as the components and dynamics of family business governance. The qualitative case study approach adopted enables the in depth contextual identification and exploration of the dynamics of family business governance. Empirical data collected from interviews, observations and reports are analysed using triangulation and pattern matching logic to ensure validity and reliability. Empirical findings are discussed with reference to the literary research findings, integrating literary and empirical findings, and resulting in the development of a conceptual model of family business governance, an SME family business governance structures model, and an SME family business authority delegation model. Governance is defined as the manifestation of the intent of the founder/owners of the business. Governance is manifest in structures, strategies, policies, procedures, relationships and performance. The reciprocity of transfers and outputs between the family business systems, the family business and its contextual environment is reflected in the performance of the business; which in turn is a reflection of the governance of the family and the family business. The study concludes with the importance of the family and its cohesion and harmony, and the impact it has on synergy, unity and harmony in the business. The study also finds that governance is strategic leadership, and that efficient and effective governance leads to synergies between the family, the family business and its contextual environment that when harnessed and directed towards a vision, can produce unimitable competitive advantages for the family firm.
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- Date Issued: 2010