Coherence between values and successor socialization: Facilitating family business continuity

The problem of CEO succession is critically important yet unique and distinct from that of turnover at other levels. Research in management agrees with the findings in family business research regarding the preference for an insider as successor, more specifically a family insider. Successful family business continuity requires raising potential successors who will add value to the firm by seeking new opportunities and fostering entrepreneurship. Parties external to the firm are likely to view succession as a signal about the institution's future; this makes CEO succession a critical event for virtually every organization. In this paper the authors outline a model that presents the different coherent options for value transmission and successor socialization that facilitate family business continuity from first to second generation. The findings are grounded in combined qualitative and quantitative techniques applied to an extensive research project involving in-depth cross-case analysis. Based on the results, the authors identify issues that families and practitioners should take into account to maintain consistency during the succession process. Professionals can assist families in preparing for continuity by: 1) identifying family value systems; 2) analyzing the variables at play in the family-business system, and 3) proposing a coherent option of continuity that both family and business can pursue. The model presented in this paper is intended to help families and practitioners follow this path by pointing out coherent combinations of values and family business characteristics and different successor socialization processes.family business; succession; values; successors; socialization;

Contents Paper Title Author(s) The Effect of Transformational Leadership on Product and Process Innovation in Higher Education: An Empirical Study in Iraq A Structural Model for Organizational Justice in Universities Based on Intellectual Capital Creating

A conference managed by ACPIL, UK Proceedings of The 5th European Conference on Intellectual Capital University of the Basque Country Bilbao, Spain 11-12 April 2013 Edited by Lidia Garcia, Arturo Rodriguez-Castellanos and Jon Barrutia-Guenaga University of the Basque Country Bilbao, Spain No reproduction, copy or transmission may be made without written permission from the individual authors. Papers have been double-blind peer reviewed before final submission to the conference. Initially, paper abstracts were read and selected by the conference panel for submission as possible papers for the conference. Many thanks to the reviewers who helped ensure the quality of the full papers. These Conference Proceedings have been submitted to Thomson ISI for indexing. Further copies of this book and previous year's proceedings can be purchased from http://academic-bookshop.com E-Book ISBN: 978-1-909507-15-9 E-Book ISSN: 2049-0941 Book version ISBN: 978-1-909507-13-5 Book Version ISSN: 2049-0933 The Electronic version of the Proceedings is available to download at ISSUU.com.. You will need to sign up to become an IS-SUU user (no cost involved) and search for the conference name. Ibrahim Elbeltagi. Is a Senior lecturer in information and knowledge management, School of Management, University of Plymouth. Publications largely related to electronic commerce, adoption of ICT, information systems in developing countries, social networking and knowledge management. I have more than 40 journal and conferences papers published or accepted for publication in many national and international journals and conferences. Nehal El-Helal received her Bachelor degree in business administration from the faculty of commerce-Mansoura University. She is currently working as demonstrator in business administration department in the faculty of commerce-Mansoura University and is preparing for her masters thesis in customer knowledge management topic. Dr. Susana Elena Perez is currently a Scientific Fellow at the IPTS (European Commission). Worked as Lecturer at the Pablo de Olavide University (Spain), member of the PRIME Network of Excellence and participated in various European projects. She holds a PhD in Economics and Management of Innovation. Research interests: universities, management and governance, intellectual capital, and science and technology policy. Mr Ahmed Elsetouhi is assistant lecturer at Faculty of commerce, Mansoura University, Egypt. In 2009 till now, he is a PhD student at Business Management -Plymouth University. His research interests focus on intellectual capital, innovation, knowledge management, e-commerce-ICT and SEMs. He has published a paper at Journal of Global Information Management (3 star), and two conference papers. Jacob Eskildsen is professor of business performance management at Aarhus University and a member of the Interdisciplinary Centre for Organizational Architecture. Before entering academia Jacob worked as quality manager in a large multinational company. He holds an MSc and a PhD from the Aarhus University and is the author of more than 100 publications. Abstract: The authors build on the intellectual capital and new product development perspectives to study the influence of relational capital on product innovation performance. An empirical research was conducted, using a questionnaire administered to Portuguese innovative SMEs. The results suggest that relational capital does have a positive effect on product innovation performance. In particular, "Vertical relationships" stands out as the main relational capital element significantly affecting product innovation at the innovative SMEs level. The existence and proactive management of relationships with customers and suppliers emerge as critical factors to product innovation success. We find our results to be useful for both researchers and practitioners: at the intellectual capital level, we contribute to the ongoing understanding of relational capital's impact on critical business activities; at the product innovation level, we contribute to the identification of additional critical success factors for new product development. At a time when intellectual capital and product innovation management are both considered to be critical for companies to gain a competitive edge (and even survive) in today's unstable business environment, this study contributes to acknowledge the relevance of relational capital management on product innovation success at innovative SMEs