Succession in Family Business and Competency Dynamics

Intergenerational cohabitation is an organizational and relational phenomenon that many Italian enterprises have experienced in recent years. This research attempts to understand if and how intense the differences are in the entrepreneurial profile between Seniors and Juniors (through the Entrepreneurial Attitude Test) and the ideas concerning expertise, roles and relationships within an enterprise (through the Questionnaire for Generational Transition). We have found that there appears to be a lack of balance in mutual perceptions (Seniors give themselves more competencies than Juniors attribute to them), in cohabitation satisfaction (the first generation thinks the relationships are more positive than the second generation) and in the image of generational transition (this is more problematic for Juniors). Some differences are apparent and the data makes us think that this crucial moment of the passing the baton can also be influenced by these personal variables. These considerations have implications for the ongoing choices and future of numerous family businesses.