"Family Owned Businesses: Issues Relating To Succession Planning"

Abstract

In the lives of family owned businesses, the issues of successors and succession reigns supreme. While more is written about this area of family business than any other, it is often the most neglected area of activity by the typical family business owner. The researchers use the primary data (in addition to secondary data) through a questionnaire of 15 questions administered to the owner of family owned businesses. The paper highlights the issues involved in family business. This paper enumerates the strategies adopted by various family owned business houses for their growth and success. The paper provides constructive suggestions to improve the operations of family businesses. The paper looks deep into the issue of succession planning