The Analytical Framework on Succession and Development in Family Firms

Hsi-Mei Chung ()
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Hsi-Mei Chung: I-Shou University

Chapter Chapter 2 in Succession and Innovation in Asia’s Small-and-Medium-Sized Enterprises, 2021, pp 27-53 from Springer

Abstract: Abstract This chapter introduces an integrated framework to illustrate that the succession and innovation decisions in an SME are two sides of a coin. The analytical framework is elaborated from Porter’s (1990) strategic position concept. The author sets up a 2 by 2 matrix to illustrate whether the SME will move away from the current industry or whether the SME will insist on the current strategic position. When an SME succeeds to the next generation, the author shows how to evaluate the current resources inside the family and the firm to match the growth requirement in the next generation. The author posits that SMEs need to consider the succession and innovation decisions simultaneously to achieve sustainability for both the family and the firm.

Keywords: Strategic position framework; Trans-generational succession; Familiness; Portfolio of products or services; Family-owned SMEs (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-15-9015-3_2

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DOI: 10.1007/978-981-15-9015-3_2

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