The role and challenges of entrepreneurial management in ensuring business continuity of family enterprises during intergenerational transition

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Authors: Sven Pirkler
Cited by: 0

Abstract

This paper examines the role of entrepreneurial managementin the intergenerational transition of family businesses, analyzedthrough a qualitative research approach encompassing economic,social, and emotional dimensions. Findings reveal that a well-structured,multi-phase succession process—featuring early successorinvolvement and clearly defined criteria—enhances the likelihood ofsuccessful authority transfer while maintaining financial stability andpreserving core family values. The transition typically entails a shiftfrom autocratic to democratic leadership, reflecting a growing perceptionof employees as vital organizational assets. Successors demonstrateprofessionalism and innovation by adopting new sales strategies,advancing technological modernization, and utilizing externalfunding sources such as EU programs, thereby improving market competitiveness.Ultimately, successful intergenerational transition relieson clear governance structures, transparent decision-making, and abalance between socio-emotional and economic goals to ensure thelong-term sustainable growth of the family enterprise.

Fields of Study & Subjects

Family Business Performance and Succession Entrepreneurship Studies and Influences Private Equity and Venture Capital

Publication details

Journal / source
Obrazovanje za poduzetništvo - E4E
Volume
15
Issue
2
Pages
92–105
Publication date
9 March 2026
Language
EN