When the successor becomes the true leader of a family business?

Abstract

Objective: The aim of presented paper is to try to answer to the questions: what are the factors that facilitate or inhibit the process of becoming the leader for international family business, and what are the major successor’s characteristics enabling successor to be a true leader of international family business? Research Design & Methods: The in-depth interview method was used. Findings: Successor’s characteristics such as: integrity, commitment to the family and family business, ability to command the respect of the personnel, decisiveness and interpersonal skills, proved to be relevant. Contribution & Value Added: With the study, author aim to contribute to a better understanding of factors connected with successor’s passage from manager to leader in international family business. the successors need to feel responsibility for the family. Secondly, he/she should has the deciding power in some part of the business. As case study shows, conflicts and interactions between family members, when well-managed, might be source of new ideas and solutions. Next to qualifications and constant learning and improving skills, there is also a need for being open minded and ready to change.