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Professional Development as a Selected Factor Influencing Succession in Family Businesses
Abstract
Theoretical background: Professional development plays a key role in succession in family businesses. Succession in family businesses means transferring control and ownership of the company from one generation to the next, and choosing the right successor is very important for the future of the company. Therefore, professional development can be a significant factor influencing this decision.
Purpose of the article: The article presents professional development as a selected factor that affects succession in family businesses.
Research methods: The primary research method chosen for data collection was a survey in the form of a questionnaire. The survey was done through a free online questionnaire – Google Form. This was intended to reach a wider audience from all over the country, so that the respondents would be as representative group as possible. The respondents were contacted through social media messaging and e-mail. This form of data collection was motivated by the desire to obtain responses primarily from young people. While 402 respondents participated in the survey, 305 responses were considered for analysis.
Main findings: The following article presents the results of a survey on awareness of the importance of building a career path and professional development and the actual status of the implementation of plans. The survey also addresses issues of satisfaction with respondents’ current working conditions. The current shortage of workers in the labour market and the deepening demographic decline may cause a situation in which a successor does not become a single member of the immediate family. The best effect can be achieved by linking succession planning with the conscious and thorough construction of a career path and professional development based on the family business. The results of the paper relate to research analysing the career decisions of future managers, take into account the impact of the career path on professional development, and contribute to the understanding of the factors analysed in the succession process.
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DOI: http://dx.doi.org/10.17951/h.2024.58.3.217-233
Date of publication: 2024-07-12 06:50:16
Date of submission: 2024-03-20 09:51:36
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