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Next-Generation Leadership Development: A Management Succession Perspective.

Purpose – This research study focusses on the succession challenges in small-medium outboard marine businesses of Malaysian Chinese family ownership. The founder-owners face challenges in convincing the next-generation memberstoestablishtheircareerswithinthefamilybusinessandtoensuresuccessionsarein...

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Main Authors: Tang, Joseph Kie Kuong, Wan Sabri, Wan Hussin
Format: Journal
Language:English
Published: 2020
Subjects:
HF Commerce
Online Access:http://ur.aeu.edu.my/756/1/10-1108_JFBM-04-2019-0024.pdf
http://ur.aeu.edu.my/756/
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spelling my-aeu-eprints.7562021-01-05T01:28:35Z http://ur.aeu.edu.my/756/ Next-Generation Leadership Development: A Management Succession Perspective. Tang, Joseph Kie Kuong Wan Sabri, Wan Hussin HF Commerce Purpose – This research study focusses on the succession challenges in small-medium outboard marine businesses of Malaysian Chinese family ownership. The founder-owners face challenges in convincing the next-generation memberstoestablishtheircareerswithinthefamilybusinessandtoensuresuccessionsarein place to safe guard the family’swealth.Agapexistsintheresearchliteraturesconcerningsuchfamilybusiness owners; and their experiences would provide valuable information to other Malaysian Chinese family businesses planning to start the succession journey. Design/methodology/approach – An exploratory case study methodology to research five Malaysian Chinese family businesses cases in Klang Valley, Selangor, Malaysia, is used in this study. The primary qualitative data were obtained through in-depth, semi-structured interviews and observations. The research data lead to the identification of the following themes:generational change affects thesurvivalofsmall-medium Malaysian Chinese family-owned businesses; the founder-owners’ intention and desire for business to pass to the next generation give rise to the imperative of succession; the founder-owners’ motive and goals, family context and the business nature would determine a large part to how the succession plans are carried out and theupbringing,expectationandobligationswoulddeterminehowthenextgenerationsofchildrenwouldview the prospect of taking over the family business. From this, a succession model that detailed an inclusive approach to succession planning process between the two generations is established. Research limitations/implications – A small purposive sample is included, and it is recommended that a larger and more diverse sample be collected in future studies. This study follows a nuclear family structure of parents and children. If more Chinese family businesses are selected based on a wider set of family members such as uncles and cousins, the findings may differ. Social implications – This researchstudy could alsofacilitateother Malaysianfamily businesses to rethink and refocus on the importance of undertaking an inclusive approach to succession planning and also help potentialnext-generationsuccessorsinunderstandingandworkingtowardsattainingthequalitiesthatfamily firms look for in future leaders. Originality/value –Theresearchersummarizesthestudyfindingsintoamanagementsuccessionmodel.An inclusive succession approach is needed to overcome these challenges and would enable sustainability, continuity and longevity of the family business. This would help the family business to understand that successionisnotasingleeventbutaprocessthatneedstobeplannedtogetherwiththenext-generationfamily members over a certain period of time. 2020 Journal PeerReviewed text en http://ur.aeu.edu.my/756/1/10-1108_JFBM-04-2019-0024.pdf Tang, Joseph Kie Kuong and Wan Sabri, Wan Hussin (2020) Next-Generation Leadership Development: A Management Succession Perspective. Journal of Family Business Management. ISSN 2043-6238 (In Press)
institution Asia e University
building AEU Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Asia e University
content_source AEU University Repository
url_provider http://ur.aeu.edu.my/
language English
topic HF Commerce
spellingShingle HF Commerce
Tang, Joseph Kie Kuong
Wan Sabri, Wan Hussin
Next-Generation Leadership Development: A Management Succession Perspective.
description Purpose – This research study focusses on the succession challenges in small-medium outboard marine businesses of Malaysian Chinese family ownership. The founder-owners face challenges in convincing the next-generation memberstoestablishtheircareerswithinthefamilybusinessandtoensuresuccessionsarein place to safe guard the family’swealth.Agapexistsintheresearchliteraturesconcerningsuchfamilybusiness owners; and their experiences would provide valuable information to other Malaysian Chinese family businesses planning to start the succession journey. Design/methodology/approach – An exploratory case study methodology to research five Malaysian Chinese family businesses cases in Klang Valley, Selangor, Malaysia, is used in this study. The primary qualitative data were obtained through in-depth, semi-structured interviews and observations. The research data lead to the identification of the following themes:generational change affects thesurvivalofsmall-medium Malaysian Chinese family-owned businesses; the founder-owners’ intention and desire for business to pass to the next generation give rise to the imperative of succession; the founder-owners’ motive and goals, family context and the business nature would determine a large part to how the succession plans are carried out and theupbringing,expectationandobligationswoulddeterminehowthenextgenerationsofchildrenwouldview the prospect of taking over the family business. From this, a succession model that detailed an inclusive approach to succession planning process between the two generations is established. Research limitations/implications – A small purposive sample is included, and it is recommended that a larger and more diverse sample be collected in future studies. This study follows a nuclear family structure of parents and children. If more Chinese family businesses are selected based on a wider set of family members such as uncles and cousins, the findings may differ. Social implications – This researchstudy could alsofacilitateother Malaysianfamily businesses to rethink and refocus on the importance of undertaking an inclusive approach to succession planning and also help potentialnext-generationsuccessorsinunderstandingandworkingtowardsattainingthequalitiesthatfamily firms look for in future leaders. Originality/value –Theresearchersummarizesthestudyfindingsintoamanagementsuccessionmodel.An inclusive succession approach is needed to overcome these challenges and would enable sustainability, continuity and longevity of the family business. This would help the family business to understand that successionisnotasingleeventbutaprocessthatneedstobeplannedtogetherwiththenext-generationfamily members over a certain period of time.
format Journal
author Tang, Joseph Kie Kuong
Wan Sabri, Wan Hussin
author_facet Tang, Joseph Kie Kuong
Wan Sabri, Wan Hussin
author_sort Tang, Joseph Kie Kuong
title Next-Generation Leadership Development: A Management Succession Perspective.
title_short Next-Generation Leadership Development: A Management Succession Perspective.
title_full Next-Generation Leadership Development: A Management Succession Perspective.
title_fullStr Next-Generation Leadership Development: A Management Succession Perspective.
title_full_unstemmed Next-Generation Leadership Development: A Management Succession Perspective.
title_sort next-generation leadership development: a management succession perspective.
publishDate 2020
url http://ur.aeu.edu.my/756/1/10-1108_JFBM-04-2019-0024.pdf
http://ur.aeu.edu.my/756/
_version_ 1688551624620900352
score 13.211869

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