Preliminary communication
https://doi.org/10.46917/st.16.1.3
The Influence of External Factors on the Generational Transition in Family Businesses from the Perspective of Internal and External Stakeholders
Iva Senegović
; VERN' University, Zagreb, Croatia
Abstract
Family businesses are an important segment of every economy due to their social and economic importance, while generational transition represents one of their biggest challenges. Generational transition occurs in a very specific, changing and uncertain context shaped by internal and external factors, their interaction and stakeholders who thru their (in)activity contribute to the success of the transition performed. The majority of previous researches was focused on internal factors and stakeholders who shape the process of generational transition. Therefore, the aim of this research is to identify the perception of internal and external stakeholders with relation to the level of importance of external factors affecting the process of generational transition. In order to achieve the goal of the research, a combination of research techniques has been used such as 360° stakeholder feedback, impact-uncertainty matrix and survey method. The research has identified „blind spots“ and „weak signals of change“ which suggest the neglection or diminution of importance of external environment for internal stakeholders. Since the companies do not operate isolated from the environment, such approach exposes family businesses to risks and missed opportunities which may jeopardize the performance of a successful generational transition. Therefore, recommendations to overcome such challenges have been offered.
Keywords
family businesses; generational transition; external factors; internal and external stakeholders
Hrčak ID:
333296
URI
Publication date:
9.7.2025.
Visits: 276 *