Bernáth Milán Kristóf (2021) Succession of Family Business. Faculty of Finance and Accountancy.
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Abstract
The present thesis tried to find answers to the difficulties of family businesses in Hungary facing the issue of succession. The choice of the topic of the research can thus be traced back to the reason that I am currently in the similar environment that is involved in the topic. The literature review chapter summarized previous literature and related concepts that help the reader also understand the background of the research. Of course, we can talk about succession in the case of family members and non-family members, but the present research has analyzed the succession between parent and child. Given that the process of succession and transfer is very long and complex, several aspects influence its success. After the main theoretical part, the empirical research was presented, the evaluation of the data of the interviews obtained during the qualitative data collection. During the interviews, interviewees were interviewed who are present in the life of the examined company as a predecessor or successor. In order to best present and illustrate the process, steps, obstacles and exact implementation of the generational change, I decided to interview 3 family businesses and ask the perspectives on both sides of the predecessor and the successor on how they are experiencing the generational change. To make my research even more exciting and relevant, I conducted interviews with 3 companies of different sizes.The 3 companies I interviewed:Euronics – (Vöröskő Kft)Roland Divatház Zrt.Észak-Kelet Flóra Kft. (own family business) During the analysis, I created categories based on the questions and answers, and categorized the answers I received, and then compared them. Based on these, the categories were as follows:-Early-stage questions (company formation, start) at all 3 companies and I drew a little parallel with the other Hungarian companies of today, which were formed after the change of regime.-Preparation: how the successor prepared, what they learned in general.-The progress of the handover, at what stage is the handover now taking place-The role of the family is examined in the case of all three companies and what are the experiences in their case compared to the Hungarian family businesses.-Values: defining values in the family, personal charge, stress relief-VisionAt the same time, the research also contains secondary data, which contains findings related to the succession processes of related Hungarian family businesses. Moreover, the relevant data provided an adequate basis for comparison with the data collected in my own primary research. Therefore, based on the research I have done it is evident that it is indispensable to use outside help, I mean coaches who are professionals in this field and knows exactly what are the necessary steps that has to be taken in order to succeed in a succession.
Institution
Budapest Business University
Kar
Faculty of Finance and Accountancy
Department
Menedzsment Tanszék
Tudományterület/tudományág
UNSPECIFIED
Szak
Item Type: | Thesis (UNSPECIFIED) |
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Uncontrolled Keywords: | family business, family business succession, family-owned business enterprises succession, predecessor, succession, successor, transition |
SWORD Depositor: | Archive User |
Depositing User: | Archive User |
Date Deposited: | 2022. Mar. 11. 08:45 |
Last Modified: | 2022. Mar. 11. 08:45 |
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