Discussion Question: An Analysis Of The Significance Of Yo

Discussion Questionpostan Analysis Of The Significance Of Your Doctora

Discuss an analysis of the significance of a doctoral research problem for promoting positive social change. The analysis should include a description of the doctoral research study business problem, an explanation of the significance of the business problem using scholarly literature, and an application of the significance to promoting positive social change within the research field and industry. Support the work with at least two scholarly sources and relevant citations.

Paper For Above instruction

Doctoral research into family firm generational succession planning addresses a critical challenge impacting both business sustainability and social stability. Successors of family businesses face a high failure rate due to inadequate planning for leadership transitions, with estimates suggesting that only about 30% of successors succeed in maintaining the family firm, while approximately 70% fail (Marler, Botero, & Massis, 2017; Chalus, Deschamps, & Cisneros, 2016). The core problem centers on the lack of effective succession strategies, particularly the insufficient attention given to successors' perspectives, an area that has predominantly been explored from the predecessor's viewpoint in existing literature. This gap underscores the importance of understanding the successors' roles and viewpoints to improve succession outcomes.

The significance of this business problem is profound. Failure in succession planning not only results in the financial decline or dissolution of the family business but also impacts broader social and economic factors. Family firms often serve as vital sources of employment and community stability; their failure can lead to job losses and economic downturns in local communities (Chalus et al., 2016). Furthermore, succession failures threaten the socioemotional wealth of families—defined as the non-financial value derived from family involvement—and can create long-lasting emotional and relational strains within the family unit (Chalus et al., 2016). Understanding successful succession strategies allows for better decision-making, ultimately fostering continuity, economic growth, and social stability.

Applying scholarly insights, researchers have identified that selecting an appropriate successor involves not only assessing their needs and skills but also acknowledging their willingness to assume leadership. Chen, Liu, Yang, and Chen (2016) highlight that pre-succession CEO selection requires a comprehensive needs assessment and validation of the successor’s perspectives. When successors are unwilling or underprepared, the likelihood of failure increases, emphasizing the importance of tailored preparation and clear communication. These findings suggest that implementing systematic succession planning strategies can significantly enhance the success rate, fostering businesses that contribute positively to society.

The social implications of this research extend beyond the immediate business environment. Promoting successful succession in family firms can lead to stronger economic resilience, job creation, and community stability—factors integral to positive social change. As Luke and Chu (2013) note, social change involves purposeful actions aimed at improving societal wellbeing. By improving succession processes, the research supports the development of sustainable businesses that serve as anchors of economic and social well-being within communities.

This doctoral study’s relevance extends further into social entrepreneurship and social enterprises. Effective leadership transitions within family firms can serve as models for building resilient social organizations, demonstrating that leadership continuity is crucial for long-term social impact. The findings can inform policies and educational programs aimed at nurturing future leaders within both for-profit and social sectors, thereby promoting broader societal benefits.

References

  • Chalus, S. M., Deschamps, B., & Cisneros, L. (2016). Unexpected succession: When children return to take over the family business. Journal of Small Business Management, 54. https://doi.org/10.1111/jsbm.12167
  • Chen, Y. M., Liu, H. H., Yang, Y. K., & Chen, W. H. (2016). CEO succession in family firms: Stewardship perspective in the pre-succession context. Journal of Business Research, 69. https://doi.org/10.1016/j.jbusres.2016.04.089
  • Luke, B., & Chu, V. (2013). Social enterprise versus social entrepreneurship: An examination of the ‘why’ and ‘how’ in pursuing social change. International Small Business Journal, 31. https://doi.org/10.1177/
  • Marler, L. E., Botero, I. C., & De Massis, A. (2017). Succession-related role transitions in family firms: The impact of proactive personality. Journal of Managerial Issues, 29. 57-81.
  • Walden University. (2019). DBA doctoral study rubric and research handbook. Retrieved from https://researchresources.waldenu.edu

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