The suitability of the business model currently used in the family business, Hedge Farm, for the transition of the business between generations
AbstractThis study considers the research question “The suitability of the business model currently used in the family business, Hedge Farm, for the transition of the business between generations.” The research aims are: a) To understand contemporary literature on family business models. b) To understand contemporary literature on succession in family businesses. c) To identify the business model used by family business Hedge Farm including the position of the business with respect to the succession process. d) To evaluate the business model of family business Hedge Farm for the transition of businesses between generations. e) To draw conclusions and make recommendations on the business model for the transition the business between generations. This will be based on analysis of the current observed business model, and the theory, based on the findings of aims a, b, c and d. This case study research is predominantly interpretive in its philosophy. Both deductive and inductive techniques were used during the research. After a literature review was completed a conceptual model and set of interview questions were developed. The semi structured interviews were conducted with all members of the case study to gain a rich insight into the organisation. The data collected was analysed inductively and grouped into a number of categories. The findings from the research suggest that a number of aspects relating to the business model at Hedge Farm will need to change as part of the succession process and it is likely that this will occur through a staged process. It was concluded that the incumbent’s reluctance to let go of the business, poor communication between business members and lack of planning for succession were factors resisting succession. Despite these there was shared agreement who will be the successor and some limited evidence that changes were beginning to occur.
PublisherUniversity of Chester
TypeThesis or dissertation
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