Succession Planning in Family-Owned Businesses
This chapter explores succession planning as it relates to family-owned businesses through a review of literature and discussions with the presidents of family-owned businesses. The chapter begins with the role of family-owned businesses in the USA and their contributions to gross domestic product and employment. Using the theoretical construct of resource-based theory, the authors compare the cultural impact of family-owned businesses in Canada, India, China, and Mexico. The chapter focuses on the factors that affect the ability of family-owned businesses to participate in succession planning by concentrating on a comparison across countries and gender.
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