Family businesses are important to many economies. They follow their own patterns and have some specialties they need to cope with, such as the succession to the next generation. This step can be seen as one of the most challenging ones for many family businesses and includes finding the right successor. Female successors are still often neglected as such potential successor. The aim of this master thesis is to give a guideline to potential female successors on what factors there might be that influence successful succession in order to make them cope with it accordingly. A qualitative re-search in the form of narrative interviews with six female successor or potential successors was used for the purpose of this study.
The most important findings include the emotional attachment of the family in the business, the timing, and steps of succession as a process, the need for preparation and planning, as well as the requirement to find the right way to deal with such challenges accordingly. In conclusion, female successors should be aware of the mentioned fac-tors and deal with them at the right time and in the right manner to influence their succession positively.
Table of Contents
1. Introduction
1.1. Problem Definition and Research Question
1.2. Aims and Structure
1.3. Methodology
1.3.1. Research Method
1.3.2. Data Collection Method
1.4. Definitions
1.4.1. Family Business
1.4.2. Succession
2. Literature Review
2.1. Succession in Family Businesses
2.1.1. The Stages of Succession
2.1.2. The Predecessor and Successor
2.2. Women in Family Businesses
2.2.1. The Role of Women
2.2.2. Women as Successors
3. Empirical Approach
3.1. Data Collection
3.2. Sampling
3.3. Access to the Field
3.4. Data Gathering
3.5. Willingness to Participate
3.6. Analysis Procedure
4. Results
4.1. Emotional Connection between the Family and the Business
4.2. Succession as a Long-Term Process
4.3. Transferring Control and Power to the Next Generation
4.4. Personal Challenges
4.5. Successors Need to Find Their Way
4.6. Empathy and Communication
4.7. External Consultants and Workshops
5. Discussion
5.1. Unplanned Succession versus Planned Succession
5.2. Biases towards Female Successors
6. Conclusion
7. Critical Reflection and Future Outlook
Research Objectives and Core Themes
This master thesis aims to provide a comprehensive guide for potential female successors in family businesses by identifying the factors that influence their succession journey. By examining both planned and unplanned succession scenarios, the research explores how female successors can navigate personal, family, and business-related challenges to achieve a successful leadership transition within the German-speaking area.
- The impact of family emotional bonds on business decision-making.
- Identifying gender-specific biases and challenges for women in leadership.
- Comparison of planned versus unplanned succession pathways.
- Strategies for professional development, including the role of external consulting.
- The importance of communication and empathy as leadership attributes.
Excerpt from the Book
2.2.1. The Role of Women
Connected to this special role of women in the family business, several studies highlight the concept of the so-called invisible woman in the context of family businesses (Gillis-Donovan & Moynihan-Bradt, 1990, p. 153; Hollander & Bukowitz, 1990, p. 143; Salganicoff, 1990, p. 136). The concept implies that women often feel overseen within the family business or not acknowledged to the extent they should be. This can be explained by traditional social roles, where the women should be responsible for the family and the men take care of the business. This might, therefore, imply that even though a woman might run a business, her husband is still considered as the leader of the business. Furthermore, women are often expected to balance their work and home responsibilities, even more than one would expect from men. Another point is the underestimation of women about their skills and respective roles they might be able to take, which again can be explained by the socialisation and certain tradition stereotypes people might have about women working in management positions. These could be some reasons why many females might rather hold back on their visible role in the family business and act in the background (Gillis-Donovan & Moynihan-Bradt, 1990, pp. 155–156; Salganicoff, 1990, p. 136). Also, being seen as purely the wife and due to this fact having a lower subordinate status to play than their husband is one of the reasons why some women describe themselves as rather invisible in family businesses. Especially external people of the business might often have this viewpoint of women. Furthermore, the invisibility of women become especially visible, when succession is discussed as often daughters are just being overlooked when it comes to choosing potential successors (Hollander & Bukowitz, 1990, pp. 143–144).
Summary of Chapters
1. Introduction: This chapter defines the research problem, establishing the importance of family businesses and the specific challenges female successors face in the succession process.
2. Literature Review: This section examines existing research on family business succession and the specific role of women, highlighting the research gap concerning female-led transitions.
3. Empirical Approach: This chapter outlines the qualitative research methodology, including the use of narrative interviews with six female successors and the circular deconstruction analysis procedure.
4. Results: This chapter presents the key findings from the interviews, covering topics such as emotional family bonds, the long-term nature of succession, and personal challenges.
5. Discussion: This section synthesizes the empirical findings, comparing unplanned and planned succession models and evaluating the presence of gender biases in family businesses.
6. Conclusion: This chapter summarizes the main findings, suggesting that preparation, timing, and self-awareness are critical factors for successful female succession.
7. Critical Reflection and Future Outlook: This final section reflects on the study's limitations and provides suggestions for further research, such as including the predecessor's perspective.
Keywords
succession, family business, female successors, qualitative research, narrative interviews, leadership, gender bias, management, family bonds, planning, succession process, role adjustment, professional development, daughters, SME
Frequently Asked Questions
What is the primary focus of this master thesis?
The thesis focuses on the succession process for women in family businesses, aiming to identify key influencing factors that help them manage this complex transition effectively.
What are the core research themes explored?
Core themes include the emotional connection between family and business, the difference between planned and unplanned succession, strategies for overcoming gender-related hurdles, and the role of professional preparation.
What is the central research question?
The research asks: What factors influence the succession of potential female successors in a family business?
Which scientific method was applied in this study?
The study utilizes a qualitative research approach, specifically conducting narrative interviews with six female successors, which were then analyzed using the "circular deconstruction" method.
What does the main part of the thesis cover?
The main part covers a comprehensive literature review on family business succession and the role of women, followed by an empirical analysis of findings from interviews with female successors.
How can one define the most important keywords of this work?
The most important keywords characterizing this work include "succession," "family business," "female successors," "leadership," and "planning," as these highlight the central subjects of the investigation.
How does the role of the "invisible woman" impact succession?
The study notes that women in family businesses often face invisibility, where their professional contributions are overlooked or undervalued compared to their male counterparts, which complicates their path to becoming acknowledged successors.
Why is "letting go" by the predecessor emphasized as a significant challenge?
The research highlights that the predecessor’s ability to "let go" of control is crucial for the successor to fully assume the leadership role and implement their own vision, which is often difficult due to the emotional ties founders have with the business.
- Quote paper
- BA Janina Berkmann (Author), 2018, Clearing the Hurdles for Succession. Female Successors in Family Businesses, Munich, GRIN Verlag, https://www.grin.com/document/455771
