Review article
https://doi.org/10.38190/ope.15.2.8
The role and challenges of entrepreneurial management in ensuring business continuity of family enterprises during intergenerational transition
Sven Pirker
orcid.org/0009-0004-1765-7196
Abstract
This paper examines the role of entrepreneurial management
in the intergenerational transition of family businesses, analyzed
through a qualitative research approach encompassing economic,
social, and emotional dimensions. Findings reveal that a well-structured,
multi-phase succession process—featuring early successor
involvement and clearly defined criteria—enhances the likelihood of
successful authority transfer while maintaining financial stability and
preserving core family values. The transition typically entails a shift
from autocratic to democratic leadership, reflecting a growing perception
of employees as vital organizational assets. Successors demonstrate
professionalism and innovation by adopting new sales strategies,
advancing technological modernization, and utilizing external
funding sources such as EU programs, thereby improving market competitiveness.
Ultimately, successful intergenerational transition relies
on clear governance structures, transparent decision-making, and a
balance between socio-emotional and economic goals to ensure the
long-term sustainable growth of the family enterprise.
Keywords
Intergenerational transition; entrepreneurial management; family business; family values; economic performance
Hrčak ID:
341722
URI
Publication date:
18.12.2025.
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