Mapping Successors’ Expectations: Decoding Factors Responsible for Effective Succession in Indian Family Businesses

Abstract

The purpose of our paper is to better understand the association between leadership succession in family owned businesses and its impact on family owned firm. In order to understand the salient features of succession and performance in Indian Family Businesses a survey on succession planning and management for Family owned businesses was done by Entrepreneurship Development Institute of India to identify expectations concerning successors: 1) from the incumbent leader; 2) from the family. This survey was conducted to determine successor's future plan that are relevant for a family business to consider for planning before actual succession in business. This paper discusses the summary findings on some of the influential variables discovered during the survey. This article is also an attempt to elucidate on the process of succession in Indian family businesses and describe the magnitude of post succession impact on these firms.