Project Modelling of SME Family Successor

Lent, Bogdan; Gostowska-Dzwig, Sylwia; Mrozik, Magdalena (December 2019). Project Modelling of SME Family Successor Proceedings of the 34th International Business Information Management Association Conference (IBIMA), pp. 5870-5881. USA: IBIMA

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This article concerns the succession of small and medium enterprise (SME) family businesses. These succession plans have all of the properties of a project. Therefore, it should be managed as a project to enhance its otherwise already hampered chances for success. The correct system boundary definition and identification of the target subjects of a change lead to three areas and thus three concurrent projects: successor grooming, changes in a financial relationship and changes in management. The first is a long-term project – shortcuts substantially increase risks for success. Management handover may be classified as an organizational change project. Financial transaction is a dedicated project with its own time schedule. In most cases, a program that comprises these three projects is led by the entrepreneur. An additional coach or even a dedicated program manager who can handle this type of endeavor is recommended. The family, even if it has a substantial impact, shall be treated as any other stakeholder. The “world” and/or environment encapsulates the endeavor. A cybernetic project (program) model of such a family business succession with feedbacking on three levels that effectively addresses the key success factors is presented in this paper.

Item Type:

Conference or Workshop Item (Paper)

Division/Institute:

Business > W Continuing education

Name:

Lent, Bogdan0000-0001-7332-9702;
Gostowska-Dzwig, Sylwia;
Mrozik, Magdalena and
Soliman, Khalid S.

Subjects:

H Social Sciences > H Social Sciences (General)

ISBN:

978-0-9998551-3-3

Series:

Vision 2025: Education Excellence and Management of Innovations through Sustainable Economic Competitive Advantage

Publisher:

IBIMA

Submitter:

Bogdan Lent

Date Deposited:

08 Jan 2020 12:12

Last Modified:

18 Feb 2021 21:45

Related URLs:

Uncontrolled Keywords:

cybernetic approach, feedback, phenomenological interdependences, three systems models, business succession strategy

ARBOR DOI:

10.24451/arbor.9908

URI:

https://arbor.bfh.ch/id/eprint/9908

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