How the Father Supports the Son’s Business Knowledge Development in Vietnamese Family Business

What is it about?

This research investigates the role of the father in supporting the development of his son’s business knowledge and preparedness to run the family business in Vietnam. The results highlight that the father plays different roles throughout the different stages of the son’s life, from childhood to when the son becomes the leader of the business. The father acts as an example during the son’s childhood; a supporter to encourage the son to gain more business knowledge from both formal education and work experience outside the family business; a mentor and trouble-shooter after the son joins the family business as a full-time employee; and as an advisor after the son becomes the leader of the firm.

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Why is it important?

Due to the liberalisation of the Vietnamese economy in the 1980’s, most Vietnamese family businesses are still operating under the control of the first generation and as a result, research into the succession process in Vietnamese family business is essential to support a smooth transition from founder to successor. Furthermore, existing research from other parts of the world into the role of the predecessor into the whole succession process, from the successor’s childhood until the end of the succession process, is ambiguous and requires further research.

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