The suitability of internal versus external successors: relevant knowledge types in family business succession

Britta Boyd, Susanne Royer

    Research output: Contribution to journalJournal articleResearchpeer-review

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    Abstract

    Understanding knowledge transfer in family firm succession is
    important for the survival of family firms. Previous research has begun to
    explore the suitability of internal versus external successor in family firms with
    regard to relevant knowledge types. This paper builds on the contingency
    model of family business succession in order to understand when family
    successors are preferred because of their family-specific experiential
    knowledge. A case study analysis from the German-Danish border region
    explores how a family firm has used internal successors for the last 12
    successions. We argue that in industries where tacit knowledge forms the basis
    for competitive advantage, the use of internal successors can help family firms
    excel after a transition of power has occurred. Theoretical and practical
    implications are discussed to enhance the long-term perspective for family
    businesses.
    Original languageEnglish
    JournalInternational Journal of Management Practice
    Volume5
    Issue number4
    Pages (from-to)361-382
    ISSN1477-9064
    Publication statusPublished - 2012

    Fingerprint

    Knowledge types
    Family business
    Family firms
    Industry
    Tacit knowledge
    Competitive advantage
    Knowledge transfer

    Keywords

    • competitive advantage; experiential knowledge; external succession;

    Cite this

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    abstract = "Understanding knowledge transfer in family firm succession is important for the survival of family firms. Previous research has begun to explore the suitability of internal versus external successor in family firms with regard to relevant knowledge types. This paper builds on the contingency model of family business succession in order to understand when family successors are preferred because of their family-specific experiential knowledge. A case study analysis from the German-Danish border region explores how a family firm has used internal successors for the last 12 successions. We argue that in industries where tacit knowledge forms the basis for competitive advantage, the use of internal successors can help family firms excel after a transition of power has occurred. Theoretical and practical implications are discussed to enhance the long-term perspective for family businesses.",
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    The suitability of internal versus external successors : relevant knowledge types in family business succession. / Boyd, Britta; Royer, Susanne.

    In: International Journal of Management Practice, Vol. 5, No. 4, 2012, p. 361-382.

    Research output: Contribution to journalJournal articleResearchpeer-review

    TY - JOUR

    T1 - The suitability of internal versus external successors

    T2 - relevant knowledge types in family business succession

    AU - Boyd, Britta

    AU - Royer, Susanne

    PY - 2012

    Y1 - 2012

    N2 - Understanding knowledge transfer in family firm succession is important for the survival of family firms. Previous research has begun to explore the suitability of internal versus external successor in family firms with regard to relevant knowledge types. This paper builds on the contingency model of family business succession in order to understand when family successors are preferred because of their family-specific experiential knowledge. A case study analysis from the German-Danish border region explores how a family firm has used internal successors for the last 12 successions. We argue that in industries where tacit knowledge forms the basis for competitive advantage, the use of internal successors can help family firms excel after a transition of power has occurred. Theoretical and practical implications are discussed to enhance the long-term perspective for family businesses.

    AB - Understanding knowledge transfer in family firm succession is important for the survival of family firms. Previous research has begun to explore the suitability of internal versus external successor in family firms with regard to relevant knowledge types. This paper builds on the contingency model of family business succession in order to understand when family successors are preferred because of their family-specific experiential knowledge. A case study analysis from the German-Danish border region explores how a family firm has used internal successors for the last 12 successions. We argue that in industries where tacit knowledge forms the basis for competitive advantage, the use of internal successors can help family firms excel after a transition of power has occurred. Theoretical and practical implications are discussed to enhance the long-term perspective for family businesses.

    KW - competitive advantage; experiential knowledge; external succession;

    M3 - Journal article

    VL - 5

    SP - 361

    EP - 382

    JO - International Journal of Management Practice

    JF - International Journal of Management Practice

    SN - 1477-9064

    IS - 4

    ER -