This latest research project from DCU’s National Centre for Family Business seeks to analyse the role of parental emotional support in real life succession situations in Irish businesses. Specifically, how does it affect next-generation family members when it comes to deciding whether to succeed their parents in the family business?
The family business is the dominant form of organization worldwide, and yet there has been to date a lack of analysis of this particular dynamic. Despite the importance of intra-family succession, global studies show that succession intentions among next-generation members are low, creating a succession crisis.
Nurturing a transition requires the commitment of both incumbent and next-generation members, and the failure to engage next-generation members and embrace their succession intentions can place the survival of the family business in jeopardy.