The relationship to non-family CEOs has become increasingly important for family businesses since many of them will face a change in leadership over the near future. Since oftentimes no suitable successor is present in the family, hiring a non-family CEO is a possible way of continuing the family business. The most important condition for a successful appointment of a non-family CEO thereby is the relationship towards the owner family.
This study identifies and elaborates success factors in the relationship between a non-family CEO and the owner family using an inductive research approach. The authors present five key success factors that contribute to the relationship and expand the understanding of academic literature by regarding the sub-relationships between the non-family CEO, the old and the new owner generation. In addition to the existing literature, the authors were able to show the importance of the new generation in the relationship with the non-family CEO. Concluding, this study provides starting points for further research as well as hands-on recommendations for both owner family and non-family CEO.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Problem
- Background
- Purpose
- Structure of the Thesis
- Frame of References
- NFCs in Family Businesses in Sweden
- The Chief Executive Officer
- Role of the CEO
- CEO Appointment
- The CEO in Family Businesses
- The Model of Three Circles in Family Businesses
- Working in a Family Business
- Managing the Family Business
- Continuity and Succession in Family Businesses
- Non-Family CEOs in Family Businesses
- Methodology
- Research Philosophy
- Research Purpose
- Research Approach
- Research Strategy
- Data Collection
- Sampling Method
- Different Types of Interviews
- Conducting the Interviews
- Research Ethics
- Analysing the Empirical Data
- Research Time Horizon
- Research Credibility
- Data Presentation
- Analysis
- Learning to Step Out of the Business
- Finding a New Role for the Old Generation
- Succession and the Role of the New Generation
- Learning to Become a Good Owner
- Characteristics of a NFC
- Background of a NFC
- Personality of a NFC
- Being a NFC – a Long-Term Commitment
- Finding the Right Way for Recruiting a NFC
- External Recruitment
- Internal Recruitment
- The Importance of a Strong Board
- Conclusion, Contribution and Further Research
- Conclusion
- Mutual Agreement on Communication
- Dedication or the Call for Stewards
- Double-Sided Leadership
- Achieving a Balance of Involvement
- The Integration of the Next Generation
- Contribution
- Recommendations
- Future Research
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This study aims to identify and elaborate success factors in the relationship between a non-family CEO and the owner family in Swedish family businesses. It uses an inductive research approach based on interviews with seven family businesses. The key themes investigated in this study include:- The role of the non-family CEO (NFC) in family businesses and their relationship with both the old and new owner generation
- The process of transitioning ownership and leadership in family businesses, including the role of succession planning
- The characteristics of a successful NFC, including their background, personality, and commitment
- The process of recruiting a NFC, including both internal and external methods
- The importance of a strong board in fostering successful relationships between NFCs and owner families
Zusammenfassung der Kapitel (Chapter Summaries)
This section summarizes the main themes and arguments presented in each chapter, excluding the conclusion and final chapter:- Introduction: This chapter sets the stage for the research by outlining the problem, background, purpose, and structure of the thesis. It highlights the increasing importance of non-family CEOs in family businesses due to leadership transitions and succession challenges.
- Frame of References: This chapter provides a theoretical framework for understanding the relationship between non-family CEOs and owner families in Swedish family businesses. It explores key concepts such as the role of the CEO, succession planning, and the model of three circles in family businesses.
- Methodology: This chapter details the research methodology employed in the study, including the research philosophy, approach, strategy, data collection methods, data analysis techniques, and research credibility.
- Analysis: This chapter presents an in-depth analysis of the interview data, examining five key success factors that contribute to a positive relationship between non-family CEOs and owner families:
- Learning to step out of the business
- Finding a new role for the old generation
- Succession and the role of the new generation
- Learning to become a good owner
- Characteristics of a NFC
- Finding the right way for recruiting a NFC
- The importance of a strong board
Schlüsselwörter (Keywords)
The primary keywords and focus topics of this thesis are: family business, succession, non-family CEO, ownership, relationships in family business, new generation, CEO recruitment. The research explores the dynamics of leadership transitions and the role of non-family CEOs in ensuring the long-term success of family-owned businesses.- Citation du texte
- Martin Pinhack (Auteur), Matthias Christian Waldkirch (Auteur), 2013, Just like a Marriage? Success Factors in the Relationship between the Non-Family CEO and the Owner Family, Munich, GRIN Verlag, https://www.grin.com/document/214925
