FAMILY BUSINESS SUCCESSFUL SUCCESSION

FAMILY BUSINESS SUCCESSFUL SUCCESSION
SURVEY QUESTIONNAIRE

This Survey is being undertaken in order to obtain information directly from young “successors of family businesses” – actual or intended - in the FABUSS partner countries, with relation to their problems and needs associated with successful succession. The results of the Survey will guide FABUSS Partners in better organising and delivering training and other types of supporting services to family business successors. The Survey respondents’ identity will remain strictly CONFIDENTIAL.
Respondent’s country of origin
Indicate please your country of origin*
Section I: Personal characteristics
Ι.1 Gender

MaleFemale
Ι.2 Age

18-2526-3031-3535+
Ι.3 Education

High SchoolUniversity LevelPost-GraduateVocational Education training
I.4 Business Succession Status
Ι.4.1 Have taken ownership of the family business in the last 3-5 years

YESNO
Ι.4.2 Intend to succeed previous owner in the next 3-5 years

YESNO
Ι.5 Which generation of the family business do you represent?

2nd3rdOlder
Section II: The Business’ characteristics
ΙΙ.1 Activity Sector
ΙΙ.2 Present size (employment)

1-910-4950-99100-249250+
Section III: FAMILY BUSINESS SUCCESSION PLANNING
ΙΙI.1 Does your family business possess a formal written (or agreed) plan for succession?

YESNO
ΙΙI.2 In your opinion, how should succession occur in your family business? Indicate the most advantageous option

Passing the management of the business to the next generation (but not the control/ownership)Passing the ownership of the business to the next generationPassing the governance (management AND control) of the business to the next generationSale of the business to a third partyAppointment of a non-family CEO, retaining family ownership and controlAppointment of a non-family CEO, giving away part of the family ownership and controlInitial Public offering
Section IV: Motives for actual or intended family business succession

Select the type of motive that applies to your personal case, independently of whether you are actual or intended successor of a family business
IV.1 What is (or was) your motive for deciding to succeed, as the family business’ owner and manager, the firm’s “previous generation”? Select UP TO THREE answers.

It seemed to be the “natural course of events”It seemed a good career opportunityI thought it would be an opportunity to put innovative ideas to practiceMy family expected me to inherit the businessI had no alternative
Section V: Family business succession - Experienced or Anticipated Problems

Indicate the importance of EACH of the listed problems that you have experienced or you anticipate to experience, with relation to family business succession.

Type of Problem

	Low / Very Low importance	Moderate importance	High importance	Very High importance
V.1.1 I lack the skills and knowledge to manage the family business
V.1.2 I am not yet ready and well prepared to run the business
V.1.3 It is difficult to manage the change that succession implies
V.1.4 I do not have the required knowledge about the family business
V.1.5 I am not able to take over all the functions that the previous leader held
V.1.6 The process of succession is not clear
V.1.7 The process of succession is very demanding in terms of family relations and the sentimental burden is high
V.1.8 The transfer of business is very demanding in terms of bureaucracy
V.1.9 The family business lacks a clear business strategy
V.1.10 The personnel of the family business (if any) is resistant to the succession or does not cope well with change
V.1.11 Managing possible family conflict resulting from the succession process
V.1.12 The family business lacks the required organization and governance
V.1.13 Family and business matters are complex and intertwined
V.1.14 Family and employees do not accept me as the new family business leader
V.1.15 We are facing family related issues that I cannot manage and discuss with others

Section VI: Skills requirements associated with family business succession - Importance and Adequacy

For EACH type of skill listed below, indicate, how important you consider it to be in cases of family business succession (indications 5: Extremely important, 1: Not at all important).

VI.1 Type of skill required - Indicator of skill’s Importance

	1	2	3	4	5
VI.1 To be able to understand and manage key issues related to family business
VI.2 To know how to overcome family or business centered conflict
VI.3 To be able to establish effective communication mechanisms
VI.4 To be able to retain key non-family employees
VI.5 To know how to set and implement realistic family business growth strategy
VI.6 To be able to gain consensus for key decisions
VI.7 To be able to make decisions as an effective family business owner
VI.8 To know how other family business businesses have tackled succession related issues, to understand them and adapt them to my business’ case
VI.9 To understand how effective governance tools can help me lead the family business
VI.10 To be able to negotiate with family and non-family stakeholders about business related issues
VI.11 To know how to effectively manage the family and business interaction

VI.2 For EACH of the above type of skills and independently of its importance, how adequate do you consider your present knowledge and skills? Rank this as: “Adequate”, “Rather adequate”, “Rather inadequate” or “Inadequate”

	Inadequate	Rather inadequate	Rather adequate	Adequate
VΙ.2.1 To be able to understand and manage key issues related to family business
VΙ.2.2 To know how to overcome family or business centered conflict
VΙ.2.3 To be able to establish effective communication mechanisms
VΙ.2.4 To be able to retain key non-family employees
VΙ.2.5 To know how to set and implement realistic family business growth strategy
VΙ.2.6 To be able to gain consensus for key decisions
VΙ.2.7 To be able to make decisions as an effective family business owner
VΙ.2.8 To know how other family business businesses have tackled succession related issues, to understand them and adapt them to my business’ case
VΙ.2.9 To understand how effective governance tools can help me lead the family business
VΙ.2.10 To be able to negotiate with family and non-family stakeholders about business related issues
VΙ.2.11 To know how to effectively manage the family and business interaction

Section VΙΙ: Upgrading your skills for family business successful succession - Preferred types of training delivery modes

Knowledge and skills insufficiencies, may be addressed by well organized and delivered training. What type of training you think would work better in your case? For EACH of the options listed, indicate the degree of your preference, as: “Most preferred”, “Moderate preference”, "Low preference" or “Not preferred”.

VII.1 Which do you consider to be the best way for upgrading your skills?

	Not preferred	Low preference	Moderate preference	Most preferred
VII.1.1 Study by myself
VII.1.2 Participate in face-to-face training sessions
VII.1.3 Distant Learning
VII.1.4 Combination of class work and distant Learning
VII.1.5 Benefit from the experience of others
VII.1.6 Discuss / exchange views with other family businesses’ “second generation” persons.

Section VIII: Final Questions

	YES	NO
VIII.1 Would you be interested in the family business training course that will be developed by the FABUSS project?
VIII.2 Would you be interested to participate the coming months in a Focus Group on family business ?
VIII.3 Would you like to be kept posted on the FABUSS project outputs/events/free Seminars - Workshops? In this case, send please an email with your request to your FABUSS National Partner

Thank you!

Your contribution is highly appreciated!
Disclaimer:
This project has been funded with support from the European Commission.
This publication [communication] reflects the views only of the author, and the Commission cannot be held responsible for any use which may be made of the information contained therein.
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FAMILY BUSINESS SUCCESSFUL SUCCESSION

SURVEY QUESTIONNAIRE

Respondent’s country of origin

Section I: Personal characteristics

I.4 Business Succession Status

Section II: The Business’ characteristics

Section III: FAMILY BUSINESS SUCCESSION PLANNING

Section IV: Motives for actual or intended family business succession

Section V: Family business succession - Experienced or Anticipated Problems

Section VI: Skills requirements associated with family business succession - Importance and Adequacy

Section VΙΙ: Upgrading your skills for family business successful succession - Preferred types of training delivery modes

Section VIII: Final Questions

Thank you!