Toward the Development of a Family Business Self-Efficacy Scale: A Resource-Based Perspective

Abstract

Given the importance of succession planning in family-owned businesses, our research is focused on identifying the key dimensions that could comprise a family business self-efficacy scale. We employed an explorative qualitative research methodology by querying a group of family business presidents to describe the skills critical for success. Using a resource-based perspective and relevant family business succession literature, we organized this feedback into a framework depicting the key challenges associated with leadership succession. The presidents' comments highlight a set of general and family business skill requirements that fall into the domains of social and human capital.