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Succession Planning Strategies For Small Family-Owned Businesses, Samuel Buckner Jr

Walden Dissertations and Doctoral Studies

Some business owners lose young, skillful midlevel leaders to competitors because of limited training to prepare a potential successor for senior leadership roles. Family business owners lack succession strategies to transfer business operations to a junior leader that can lead to business closure and increased community unemployment. Using the transformational leadership framework, the purpose of this multiple case study was to explore the succession planning strategies that small family-owned business owners use to train the next generation of leaders in the southeastern region of the United States. The data sources included a semistructured interview with two business owners and leadership …