Abstract
AbstractThe paper addresses how the understanding of family business legacy, individual identity, and transgenerational entrepreneurship of next‐generation principals is affected by role changing events in family business systems. The paper uses the insights of a focus group of 38 next‐generation family business principals of ultrahigh‐net‐worth business families from 14 countries. It corroborates that parents and role models are influencing factors on the understanding and perception of family identity, values, and transgenerational entrepreneurship. Identity inflection points during moments of expected and unexpected role changes, such as family business succession, can either positively or negatively impact the appreciation of a next‐generation principal regarding legacy, identity, and transgenerational entrepreneurship. Based on the results of the qualitative interviews and peer group discussions, the findings indicate how identity inflection points affect the preservation of the next‐generation family business principal's identity and family identity during a moments of role changes in family businesses and are a bottleneck for transgenerational entrepreneurship.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
