Family businesses in the face of succession based on the example of
a family business operating in the sector of PVC carpentry and aluminium
joinery Cover Image

: Firmy rodzinne w obliczu sukcesji na przykładzie rodzinnej firmy działającej w sektorze stolarki PCV i ślusarki aluminiowej
Family businesses in the face of succession based on the example of a family business operating in the sector of PVC carpentry and aluminium joinery

Author(s): Monika Fabińska
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: plan of succession; successor; family business; PVC carpentry market; aluminium joinery market

Summary/Abstract: Family businesses are currently facing challenges associated with the sufficiently early planned process of succession. This is due to three global trends: (I) an increase in the pace of economic change; (II) political uncertainty and (III) an increase in the age when the decision about starting a family is made. World [PwC 2014; PwC 2016] and domestic [PARP 2012] reports indicate that not only most family businesses do not have a succession plan but there is also no self awareness concerning the need to prepare and implement such a plan. Another major problem is the issue related to seeking an answer to the question, in the context of the planned succession process, whether the successor is to be also the manager, or only the owner, and the management control of the company should be transferred to external experts/employed specialists. The aim of the paper is to indicate the theoretical rationale of the succession process in the context of convergence with business practice based on the case study of a Polish family business operating for 40 years in the market of PVC carpentry and aluminium joinery – one of the fastest growing sectors in Poland which gradually becomes a leader in the global market.

  • Issue Year: 2017
  • Issue No: 487
  • Page Range: 91-100
  • Page Count: 10
  • Language: Polish