The challenge of knowledge transfer between owner-manager and successor in family firms succession

What is it about?

Knowledge is a source of power. In family businesses, knowledge needs to be transferred owner-manager and successor in internal succession. Sharing knowledge during succession is however often difficult. Why? Because of the of the tight bonds and power relationships in families. High power imbalances slow succession down, and have a negative impact on sharing of tacit knowledge transfer from one generation to the next.

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Photo by Vlad Kutepov on Unsplash

Photo by Vlad Kutepov on Unsplash