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Succession Planning in Family-Owned Businesses

  • Lillie M. Hibbler-Britt
  • Anna Copeland Wheatley
Chapter

Abstract

This chapter explores succession planning as it relates to family-owned businesses through a review of literature and discussions with the presidents of family-owned businesses. The chapter begins with the role of family-owned businesses in the USA and their contributions to gross domestic product and employment. Using the theoretical construct of resource-based theory, the authors compare the cultural impact of family-owned businesses in Canada, India, China, and Mexico. The chapter focuses on the factors that affect the ability of family-owned businesses to participate in succession planning by concentrating on a comparison across countries and gender.

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Lillie M. Hibbler-Britt
    • 1
  • Anna Copeland Wheatley
    • 1
  1. 1.University of PhoenixTempeUSA

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