Becoming the Boss: Discretion and Postsuccession Success in Family Firms

Family firms can enjoy substantial longevity. Ironically, however, they are often imperiled by the very process that is essential to this longevity. Using the concept of managerial discretion as a starting point, we use a human agency lens to introduce the construct of successor discretion as a fact...

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Bibliographic Details
Published in:Entrepreneurship theory and practice 2009-11, Vol.33 (6), p.1201-1218
Main Authors: Mitchell, J. Robert, Hart, Timothy A., Valcea, Sorin, Townsend, David M.
Format: Article
Language:English
Subjects:
Agency
Analysis
Entrepreneurship
Evaluation
Family corporations
Family firms
Family owned businesses
Family-owned business enterprises
Human agency
Management
Management attitudes
Managers
Organizational change
Organizational structure
Studies
Succession
Succession planning
Succession planning (Business)
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Summary:Family firms can enjoy substantial longevity. Ironically, however, they are often imperiled by the very process that is essential to this longevity. Using the concept of managerial discretion as a starting point, we use a human agency lens to introduce the construct of successor discretion as a factor that affects the family business succession process. While important in general, successor discretion is positioned as a particularly relevant factor for productively managing organizational renewal in family businesses. This study represents a foundation for future empirical research investigating the role of agency in entrepreneurial action in the family business context, which consequently can contribute to the larger research literature on succession and change.
ISSN:1042-2587
1540-6520
DOI:10.1111/j.1540-6520.2009.00341.x