A Framework of Successor Competencies to Promote Corporate Entrepreneurship in Family Firms

Abstract

Corporate entrepreneurship has been shown to have a positive effect on the long-term growth of family firms. Out of a variety of factors affecting the promotion of corporate entrepreneurship in successive generations of a family firm, the successor as the future leader of the firm plays a critical role. Therefore, identification of competencies enabling a successor to develop corporate entrepreneurship in a family firm can be useful. In this research 17 successor competencies have been identified by studying five Iranian family firms which have been successful in transferring entrepreneurship to successive generations. The paper describes and explains the function of each competency to promote corporate entrepreneurship in a family firm.