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Dempo, Govindraj (2023). Family business succession in VUCA environments:. 1-272

G. Dempo,  "Family business succession in VUCA environments:",, pp. 1-272, 2023

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	year = "2023",
	url = "https://share.google/FwEg9vIboimQ6mP4b"
}

TY  - GEN
TI  - Family business succession in VUCA environments:
AU  - Dempo, Govindraj
PY  - 2023
SP  - 1-272
UR  - https://share.google/FwEg9vIboimQ6mP4b
AB  - Succession planning is critical to the life of family firms. It has been observed that, when
families cannot identify an heir, they either incur divestment or develop a static management
mode, without progress. (Fallan & Galizo, 2021). The focus of company leaders'
sustainability reviews is frequently on human capital. According to Calareso (2013), as cited
by Polk (2016), a company is only as good as its employees, but finding employees who are
suitable for the company remains a challenge in the context of an uncertain business
environment. Calareso (2013) further indicates that despite companies planning for their
successors, they engage in minimal planning. Further limitations of data and
information availability in VUCA environments driven by rapid change in markets
severely limit and constrain any dimensions of risk diversification and decision-making
toward stability and certainty. The need for information about the succession plan is
different in various sectors and helps minimize the challenges that affect succession in an
organization. Therefore, the critical problem that this study strives to address is the perceived
lack of succession planning to address both internal and external promotional opportunities
for filling in family-owned businesses at the needed time. Hence, this study strives to
explore the approach that exists which are used in a succession of family-owned
businesses and give a recommendation that can be used to develop CEOs for such family
firms when faced with such problems in VUCA environments to engineer reasonable
choices, offset constraints, allocate resources, perform organization alignment, diversify
risks and strive towards sustainable growth and stability with continuity and longevity of the
family firm and its SEW emotional endowment.(Cruz, 2012).
ER  -