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The Analytical Framework on Succession and Development in Family Firms

In: Succession and Innovation in Asia’s Small-and-Medium-Sized Enterprises

Author

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  • Hsi-Mei Chung

    (I-Shou University)

Abstract

This chapter introduces an integrated framework to illustrate that the succession and innovation decisions in an SME are two sides of a coin. The analytical framework is elaborated from Porter’s (1990) strategic position concept. The author sets up a 2 by 2 matrix to illustrate whether the SME will move away from the current industry or whether the SME will insist on the current strategic position. When an SME succeeds to the next generation, the author shows how to evaluate the current resources inside the family and the firm to match the growth requirement in the next generation. The author posits that SMEs need to consider the succession and innovation decisions simultaneously to achieve sustainability for both the family and the firm.

Suggested Citation

  • Hsi-Mei Chung, 2021. "The Analytical Framework on Succession and Development in Family Firms," Springer Books, in: Hsi-Mei Chung & Kevin Au (ed.), Succession and Innovation in Asia’s Small-and-Medium-Sized Enterprises, chapter 0, pages 27-53, Springer.
    • Handle: RePEc:spr:sprchp:978-981-15-9015-3_2
    DOI: 10.1007/978-981-15-9015-3_2
    as

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