Succession planning in William Jackson Food Group

2015 ◽  
Vol 5 (1) ◽  
pp. 2-16 ◽  
Author(s):  
Lorna Collins ◽  
Barbara Murray ◽  
Ken McCracken
Keyword(s):  
Family Business ◽  
Succession Planning ◽  
Large Family ◽  
Food Group ◽  
Family Businesses ◽  
Content Type ◽  
Succession Plan ◽  
Succession Process ◽  
Conversation Piece ◽  
The Uk

Purpose – This paper is a conversation piece which highlights the ways in which succession planning in large company might be handled. The discussion focuses on Christopher Oughtred the former Chairman of William Jackson Food Group, one of the largest family businesses in the UK. The paper aims to discuss these issues. Design/methodology/approach – This paper presents a conversation with a panel of leading family business experts and a family business owner. The paper presents latest thoughts on family business research, insights into a real family business succession project and reflections from a former Chairman on the succession process. Findings – Findings highlight possible stages and requirements of a successful transition and succession plan. Also suggestions for areas of further research are presented. Originality/value – The conversation recorded in this paper represents a rare opportunity to obtain reflections and insights on a succession process and how it was managed in a large family business. The conversation also highlights the kinds of challenges often experienced by family businesses during transition and succession. As a case study this is an exemplar of how succession might be planned.

scholarly journals Cultural Specificities of Succession’ Failure and Success in the Context of Unlisted Moroccan Family-Owned Businesses

2021 ◽  
Vol 12 (1) ◽  
pp. 130
Author(s):  
Azzeddine Allioui ◽  
Badr Habba ◽  
Taib Berrada El Azizi
Keyword(s):  
Family Business ◽  
Succession Planning ◽  
Large Family ◽  
Family Businesses ◽  
Structured Interviews ◽  
Succession Plan ◽  
The Family ◽  
Moroccan Family ◽  
Cultural Constraints ◽  
The Relationship

The purpose of this research aims to study the relationship between the cultural specificities of the Moroccan context and the success or failure of succession strategies (in terms of planning and process) in the case of Moroccan unlisted family businesses. Our study covered a sample of 20 unlisted Moroccan family businesses, 8 of which are SMEs, 6 are large firms, and 6 are VSEs, through a qualitative research based on semi-structured interviews with the managers of family businesses. Our results explain the influence of Moroccan cultural specificities on the success or failure of the transfer of family businesses. Indeed, these influences essentially manifest themselves in three antecedents: the succession planning that already reflects the intention to pass on the family business to the next generations, either by having a well-prepared plan, or an absence of a succession plan that leaves things to chance; the succession process that is influenced in part by specificities of Moroccan culture by granting privilege to the eldest male in the succession, and in another part this process becomes more rational by giving credit to successors competent to take over the family business in the case of large family businesses; and cultural constraints that are manifested mainly by the taboos surrounding the death of the predecessor and religious principles that similarly explain the different configurations of success or failure of the succession strategy of the family business. An extension of this work could be a multi-factor analysis in future researches.

Strong governance: a result of evolutionary and revolutionary processes

2014 ◽  
Vol 4 (2) ◽  
pp. 99-109 ◽  
Author(s):  
Lorna Collins ◽  
Ken McCracken ◽  
Barbara Murray ◽  
Martin Stepek
Keyword(s):  
Family Business ◽  
Best Practice ◽  
Family Dynamics ◽  
Family Businesses ◽  
Formal Structure ◽  
Governance Mechanisms ◽  
Content Type ◽  
The Family ◽  
The Uk ◽  
The Impact

Purpose – This paper is the first in a regular series of articles in JFBM that will share “a conversation with” thought leaders who are active in the family business space. The world of family business is, like many other arenas, constantly evolving and as the authors learn more about how and why families “do business” the approaches and tools for working with them also evolve. The purpose of this paper is to stimulate further new research in areas that practically affect family businesses and to “open the door” to practical insights that will excite researchers and provide impetus for new and exciting study. The specific purpose of this paper is to explore “what is strong governance.” There has been much interest in governance lately yet there is a tendency to treat governance in a formulaic way such that, at the moment, the notion that every family business must have a family council or a formal structure in order to be considered “effective” and “successful” predominates. The authors’ panel challenges and discusses this notion drawing on the experience and knowledge as family business advisors, consultants and owners. Design/methodology/approach – The impetus for this particular conversation is a result of a brainstorming conversation that Lorna Collins and Barbara Murray held in February 2014 where they focussed on “how JFBM can encourage and stimulate researchers to engage in aspects of research that makes a difference to the family business in a practical way.” This paper reports a conversation between Barbara Murray (Barbara), Ken McCracken (Ken) and Martin Stepek (Martin), three leading lights in the UK family business advising space, all of whom have been involved in running or advising family businesses for more than three decades, held in August 2015. The conversation was held via telephone and lasted just over 60 minutes. Lorna Collins acted as moderator. Findings – Strong governance is not just about instituting a “family council” or embedding formal governance mechanisms in a family business. Evolutionary adaption by family members usually prevails such that any mechanism is changed and adapted over time to suit and fit the needs of the family business. Many successful family businesses do not have recognized “formal” governance mechanisms but, it is contended, they are still highly successful and effective. Future areas of research in governance are also suggested. Originality/value – This paper contributes to the family business discourse because the debate it reports challenges the basic assumptions upon which much consulting and advisory practice is conducted. It also challenges the notion of “best practice” and what is “new best practice” and how is it that any “best practice” is determined to be “best.” Furthermore, the panel provides insights in to the “impact of family dynamics on governance” and “the impact of family dynamics on advisors.” The paper content is original in that it provides an authentic and timely narrative between active family business practitioners who are also scholars and owners.

Successful family business succession: Utilizing peer groups for critical leadership skills development

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jenell Lynn-Senter Wittmer ◽  
Clinton Oliver Longenecker ◽  
Angie Jones
Keyword(s):  
Leadership Development ◽  
Family Business ◽  
Succession Planning ◽  
Leadership Skills ◽  
Peer Groups ◽  
Family Businesses ◽  
Business Leaders ◽  
Content Type ◽  
Critical Leadership ◽  
Business Succession

Purpose The current study explores the necessary leadership skills required for leadership succession in family businesses as well as best development activities for each skill. The current study provides suggestions for best practices in developing and utilizing peer groups as a leadership development method. Design/methodology/approach A needs assessment was conducted by surveying 150 family-business leaders. Leaders were asked, “What are your most pressing leadership development needs for your organization as you move toward succession? A follow-up question was then asked: “For each of these skills, what method would best help develop this skill for family business leaders?” The responses were content analyzed, placed into themes, and rank ordered. Findings High agreement amongst business leaders was found as eight leadership skills were cited by high percentages of family-business leaders. Leaders overwhelmingly reported peer developmental activities as being the best method for developing these skills. Originality/value Succession planning in family-businesses is critical as many family business fail to make it past the first or second generation. However, little research explores what specific leadership skills are necessary for optimal succession. As well, many leaders in public organizations seek individual methods of development, such as executive coaching, whereas family business leaders seek group activities to learn with/through their peers.

Passing on the legacy: exploring the dynamics of succession in family businesses in Pakistan

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Asma AbdulRahim Chang ◽  
Muhammad Shujaat Mubarik ◽  
Navaz Naghavi
Keyword(s):  
Family Business ◽  
Succession Planning ◽  
Design Methodology ◽  
Family Firms ◽  
Family Members ◽  
Family Businesses ◽  
Content Type ◽  
Traditional Family ◽  
Interviewing Technique

PurposeBy taking the theory of entrepreneurial legacy as the baseline, this study explores the various aspects of succession planning in indigenous family businesses especially the role of female family members in succession and conflicts in family businesses.Design/methodology/approachThe study is qualitative in nature and adopts narrative inquiry to explore the aspects of succession planning. In doing so, the study utilizes an in-depth interviewing technique with nine participants who run their family-owned firms which are mostly in their second or third generation for analysis.FindingsThe findings are concurrent with the literature that indicates a lack of strategic succession planning although ordinary or natural succession does occur in some firms. The study also reports a lack of consideration for female members in succession, daughters in particular, for traditional family firms (FFs) in contrast to entrepreneurial FFs.Research limitations/implicationsThe study has many implications for family-owned firms in Pakistan as they need to align their family business with the theory of entrepreneurial legacy and its three strategic activities in order to ensure the longevity of their business.Originality/valueExploring how succession planning takes place in family indigenous family businesses and what is the role of female family members in succession and conflicts in family businesses are original contributions of this study.

Cultural values and their implications to family business succession

2019 ◽  
Vol 10 (4) ◽  
pp. 281-292 ◽  
Author(s):  
Grisna Anggadwita ◽  
Werda Bagus Profityo ◽  
Dini Turipanam Alamanda ◽  
Anggraeni Permatasari
Keyword(s):  
Cultural Values ◽  
Family Business ◽  
Family Businesses ◽  
Chinese Family ◽  
Content Type ◽  
The Family ◽  
Succession Process ◽  
Business Succession ◽  
Family Business Succession ◽  
Practical Implications

Purpose The family business is one of the business entities that contribute to the economy of a country. Succession in the family business occupies a strategic position, especially in maintaining the company’s sustainability. The Chinese family business has unique characteristics in maintaining and growing its business with the cultural values that underlie how their business. The purpose of this paper is to discuss the cultural values of Chinese ethnic and their implications in the succession process in small family businesses in Bandung, Indonesia. Design/methodology/approach This research uses a qualitative method with the in-depth interview method as a data collection technique. The sampling technique uses purposive sampling, while to test the validity of research data using a triangulation technique. A total of four small Chinese-owned family businesses participated as informants in this study. The study will identify the stage of succession process in the Chinese family business. Findings There are several stages identified in the succession planning of small Chinese-owned family business in Bandung which include succession antecedents, succession activities and desired outcomes. The results showed that small Chinese-owned family business in Bandung has not applied the rules and procedures in the succession process. Most of the Chinese family business in this research still holds Confucianism culture; they prioritize boys as business successors, who have a greater responsibility rather than successor with other gender. Practical implications Several implications are discussed. One of them is the Chinese family business holding cultural values in the process of family business succession. Originality/value This research is expected to provide theoretical and practical implications for academics and family companies with similar cases.

Passing the baton

2016 ◽  
Vol 24 (3) ◽  
pp. 35-37 ◽  
Author(s):  
Pauline Drury
Keyword(s):  
Family Business ◽  
Succession Planning ◽  
Family Firms ◽  
Longitudinal Research ◽  
Panel Discussion ◽  
Psychological Impact ◽  
Food Group ◽  
Content Type ◽  
Factors Affecting ◽  
The Family

Purpose The purpose of this paper is to consider the factors affecting the success of succession planning in family businesses. Design/methodology/approach The study reports on a panel discussion in which the former chairman of the William Jackson Food Group describes the processes put in place to manage succession at this family firm and his own experience of handing over to his successor. Findings Once upon a time, saying that you were going into the family business marked the end of any career discussion. Now it’s just the beginning – interest in family firms has never been greater. Succession planning is a subject guaranteed to generate questions – everyone wants to know how to get it right. Fortunately, it’s an area where some are happy to share their experience. Research limitations/implications The paper highlights the need for more longitudinal research on family firms. Practical implications This paper provides a practical guide to structures and processes that can facilitate succession planning in family firms. Social implications It draws attention to the emotional and psychological impact of succession on the retiring individual and the need to create life structures to replace former business involvement. Originality/value This paper aims to present a frank discussion of the approach to succession planning taken by one family business and the broader research questions that it raises.

Moderating role of education on succession process in small family businesses in Pakistan

2018 ◽  
Vol 8 (3) ◽  
pp. 293-305 ◽  
Author(s):  
Zeeshan Ahmad ◽  
Muhammad Rizwan Yaseen
Keyword(s):  
Family Business ◽  
Positive Impact ◽  
Family Businesses ◽  
Business Strategies ◽  
Customer Focus ◽  
Control Analysis ◽  
Subsequent Generation ◽  
Content Type ◽  
Small Family ◽  
Succession Process

Purpose The purpose of this paper is to enhance the longevity and improve the succession process in small family businesses sustaining in Pakistan. Family businesses perform an active role in economic development of any country. Statistics shows, 30/13/3 business transfers into subsequent generation in the interfamily business (Ward, 2016). Design/methodology/approach Data are collected from 365 respondents who were either incumbents or successor in 135 small family businesses in Pakistan. Simple linear regression and process control analysis by Andrew Hayes are used for moderating variable analysis in SPSS20. Findings The results show that customer focus management, business strategies and governance board have a significant positive impact on the succession process of small family business in Pakistan. There is negative significant moderating impact of education on business strategies and customer focus management while there is no moderating impact of education over governance board and satisfaction with succession. Research limitations/implications This study will help the family business incumbents to focus deliberately on the factors that influence the succession process so that business could be transferred to the subsequent generation successfully. Originality/value The previous research does not show the effect of education at different levels and importance of customer focus management toward the succession process.

scholarly journals The father’s role in supporting the son’s business knowledge development process in Vietnamese family businesses

2019 ◽  
Vol 11 (2) ◽  
pp. 258-276 ◽  
Author(s):  
Thanh Trung Pham ◽  
Robin Bell ◽  
David Newton
Keyword(s):  
Family Business ◽  
Development Process ◽  
Second Generation ◽  
Family Businesses ◽  
Knowledge Development ◽  
Content Type ◽  
The Family ◽  
Business Knowledge ◽  
Succession Process

Purpose Many family businesses do not survive into the second generation. A common reason put forward for this is poor succession planning for the second generation. This paper is designed with the aim to explore the role of the father in supporting the son’s business knowledge and development in Vietnamese family businesses. Design/methodology/approach This research adopted an inductive qualitative approach using multiple face-to-face semi-structured interviews with five father–son succession pairs. The interview participants were a cross section of Vietnamese family businesses, where the father–son pair was involved in the process of business knowledge transfer and the succession process was at an advanced stage. Findings The results suggest that the father plays different roles at different stages of the son’s business knowledge development process. In particular, the father acts as an example during the son’s childhood; a supporter to encourage the son to gain more business knowledge from both formal education and working experience outside the family business; a mentor and trouble-shooter after the son joins the family business as a full-time employee; and as an advisor after the son becomes the leader of the firm. Originality/value Most Vietnamese family businesses are still operating under the control of the first generation, and as a result, research into the succession process in Vietnam can help to provide valuable insights. Furthermore, existing research into the role of the predecessor in the whole process from the successor’s childhood until the end of the succession process is ambiguous and requires further research to clarify this research gap.

When is the right time for succession? Multiple cases of family businesses in Indonesia

2020 ◽  
Vol 10 (4) ◽  
pp. 349-359
Author(s):  
Nyayu Lathifah Tirdasari ◽  
Wawan Dhewanto
Keyword(s):  
Family Business ◽  
Food Industry ◽  
Developmental Stages ◽  
Family Businesses ◽  
Comparative Case Study ◽  
Structured Interviews ◽  
Content Type ◽  
The Family ◽  
Succession Process ◽  
The Right

PurposeSuccession timing plays a key role in the part of the succession process. While much notice has been given solely to the viewpoint of predecessor and successor, less known about the schedule during this most critical family business dealings. The purpose of this research is to assess the right time for predecessors to let go of their leadership and allow the successor to take charge of the family business. Notably, it considers how the process of interaction between predecessor and successor may encourage successor capability, succeed the family business and following implications for the succession process as well.Design/methodology/approachAn exploratory comparative case study design employed in order to disclose the time by time activities around the succession process. This study presented circa 11 case studies from family businesses of the food industry. Data gathered utilizing semi-structured interviews and formal secondary data from the organizations, all of whom operate in Java, Indonesia.FindingsFindings reveal five critical outcomes. First, the results show that most of the respondents had no written succession plan and did not keep up the developmental stages, but the succession process was successful. Second, the study found a reduced age of successor even though the stages increase. Third, the respondents did not know when was the predecessor is getting busy managing the business, and some successors did not attend college as well. Fourth, the succession process of RC is the fastest and TY is the longest. Last, the succession process of the second-generation family business is faster than the third-generation.Originality/valueThis paper presents further evidence of the succession process of family businesses. It moves beyond a timing explanation of succession to develop a more sequentially aware understanding of the agility within the succession process. It contributes to the limited references of the family business in the food industry in Indonesia as well.

scholarly journals Development model for family business successions evaluation with a South African Case Study

2013 ◽  
Vol 6 (1) ◽  
pp. 134
Author(s):  
Fidelis Emuze ◽  
Chris Adendorf ◽  
Graham Ward
Keyword(s):  
South African ◽  
Family Business ◽  
Succession Planning ◽  
Small Businesses ◽  
Qualitative Data ◽  
Family Businesses ◽  
Development Model ◽  
Succession Process ◽  
Successful Business

<p>Family businesses (FB) contribute between 45 and 90% to global gross domestic product (GDP). However, empirical research has raised the alarm pertaining to the need to prolong the longevity of such businesses. Findings indicate that within the next 5 years, over 50% of FB executives could retire from day to day running of such businesses. This highlights the significance of successful business successions. The dynamics around the succession process and the criteria influencing successful successions have thus engaged the attention of researchers. Therefore, the purpose of this study was to better understand the development of successors in FB. The study began with a literature survey through which a development model was identified. The study then went on to evaluate the model through an FB case study. The single qualitative case study was used to test whether the six (6) prepositions proposed in the model applied to the case that was studied. Through one-on one interviews and a qualitative data analysis, it was observed that the 6 prepositions were applicable to the FB. In other words, FB grappling with succession planning can be advised to endeavour to understand and take actions aligned with the prepositions.</p><strong>Keywords:</strong> Family businesses, Small businesses, Shareholders, Succession

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