Generational change in family businesses: keys to an effective transition
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Abstract
In the global economy, family businesses are recognized as a fundamental pillar, contributing to the generation of employment and strengthening local economies. The objective of the study is to identify the main components that affect these companies in their generational transition and to determine the factors that influence succession and its impact on these organizations. The information was obtained from reliable sources such as the Superintendencia de Compañías Valores y Seguros (SCVS), the Servicio de Rentas Internas (SRI)and the Directorio de Empresas y Establecimiento (DIEE). In order to group and classify the most important correlated factors, a Principal Component Analysis was carried out. Subsequently, SPSS software was used to evaluate the reliability and interconnectedness of the data. The reliability of the model was determined by means of statistical tests: KMO adequacy measure and Barlett's sphericity. The results confirm that generational transition must be a planned and effective process, with clear communication, leadership, projection, commitment to strong relationships and adaptability. It is concluded that in order to guarantee the survival and long-term development of family businesses, it is essential to plan succession with due anticipation, considering business continuity management, behavioral psychology, effective human talent, strategic business planning, change management, and family succession and sustainability.
URL: https://revistas.uta.edu.ec/erevista/index.php/bcoyu/article/view/2333
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