Publication

Abstract : pToday, various factors determine the successor in a family business. Succession planning in family business is a tough and a critical challenge. Succession planning in family business is influenced by various factors. This paper attempts to study the effect of various personal and strategic factors on small and medium scale Indian family business in the succession planning process. It is important to understand the effect of these factors while selecting the successor as it may eventually determine the success or failure of the family business. The study uses a case research method which focuses on the companies from the manufacturing sector and the service sector in the small and medium enterprise category. The study focuses on cases from the succession planning of various companies and it helps to understand how succession planning in those firms is affected by various factors. Data is collected from the head of the family business in both the manufacturing and the service sector. The sample consists of detailed discussion with the owners of eight family businesses to understand various personal and strategic factors affecting succession planning across India. © Published under licence by IOP Publishing Ltd./p