Abstract
Family businesses (FB) are important in the most of national economies. We explored whether successors' innovativeness is positively associated with the transfer of the founders' innovativeness through knowledge transfer and creation processes in a form of the internal transfer of founders' tacit and experiential knowledge and skills and with the external transfer of knowledge, when potential successors attend educational programs, external training, or gain working experience in other companies. Our research reveals that when the actual forms of internal knowledge transfer are discussed, the positive correlations exist between innovativeness of successors and their early inclusion into FB, apprenticeship, inclusion of successors into meetings with business partners and strategic planning before they get involved in FB. Our survey partially confirmed that regarding external transfer of knowledge, working experiences of successors in other companies and participation in academic courses are positively associated with their innovativeness.
Highlights
Businesses (FB) are dominating and playing an important role in the most of national economies
Letonja / SJM 16 (1) (2021) 181 - 199 been mostly focused on succession (e.g., Sharma, 2004; Giambatista et al, 2005; Chirico, 2008) and conflicts, adding a new streamline of research which investigates the ambitions of possible successors that may be able to expand their career choice with the tempting opportunity to spin off from the Family businesses (FB) by starting their own ventures (Ljubotina et al, 2018)
The results of our research reveal that when the actual forms of internal knowledge transfer are discussed the positive correlations exist between innovativeness of successors and their early inclusion into FB, apprenticeship, inclusion of successors into meetings with business partners and strategic planning before they get involved into a FB
Summary
Businesses (FB) are dominating and playing an important role in the most of national economies. M. Letonja / SJM 16 (1) (2021) 181 - 199 been mostly focused on succession (e.g., Sharma, 2004; Giambatista et al, 2005; Chirico, 2008) and conflicts, adding a new streamline of research which investigates the ambitions of possible successors that may be able to expand their career choice (i.e. to join the family business or seek employment elsewhere) with the tempting opportunity to spin off from the FB by starting their own ventures (Ljubotina et al, 2018). Nowadays interest for researching innovativeness of FB is growing (Ganzaroli et al, 2006; Laforet, 2012). FB prosperity across generations depends on innovation (Jaskiewicz et al, 2015) to achieve long-term goals (DiazMoriana et al, 2018)
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