Title: Dynamic management of family businesses succession: an integrated process model

Authors: Toney Duckworth-Chambless; Alfonso Quinones; Lars Mathiassen

Addresses: College of Business and Computing, Georgia Southwestern State University, Americus, Georgia, 31709, USA ' J. Mack Robinson College of Business, Georgia State University, Atlanta, GA 30303, USA ' Computer Information Systems, J. Mack Robinson College of Business, Atlanta, GA 30303, USA

Abstract: Although the literature on family business succession is rich, we lack practical guidance on how family businesses can dynamically manage leadership succession across generations in response to changing business environments. In response, we present a process model that family businesses can use repeatedly to manage leadership succession while adapting to changing conditions. Grounded in dynamic capability theory, we reviewed family business succession literature to develop an integrated process model of the foundational tasks of organising, strategising, preparing, and implementing leadership succession with specific questions and principles for the activities involved in each task. Family businesses can use the model to create a shared knowledge base about succession management, repeatedly assess and improve succession management practices, and support purpose-driven responses to emerging events. The model contributes a research-based blueprint that family businesses can use to dynamically assess and improve their succession management practices in response to constantly changing business environments.

Keywords: family business; managing succession; multi-generational succession; dynamic capability; literature review; integrated process model.

DOI: 10.1504/IJGSB.2025.152492

International Journal of Globalisation and Small Business, 2025 Vol.15 No.4, pp.361 - 384

Accepted: 07 Feb 2026
Published online: 23 Mar 2026 *

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