The process of succession and its impact on sustainability: an empirical study within family wineries in Cyprus Online publication date: Thu, 29-Oct-2020
by Thoukis Georgiou; Demetris Vrontis; Ioanna Papasolomou; Alkis Thrassou
International Journal of Globalisation and Small Business (IJGSB), Vol. 11, No. 4, 2020
Abstract: Undoubtedly, two of the most critical drivers for business competitiveness are innovation and sustainability. Businesses and especially small and medium sized enterprises (SMEs) are facing many challenges in an increasingly dynamic and volatile marketing environment. In such an environment, innovation and sustainability become strategic tools for competitiveness and future development. Faced with major new challenges in a rapidly evolving world market, SMEs operating in the wine sector and especially those that are family-owned, need to reconsider their strategic options in terms of succession, since their unique nature and characteristics pose challenges for their sustainability. Sixteen in-depth semi-structured face-to-face interviews with representatives from six Cypriot family-owned wineries were carried out with the aim of understanding whether family wineries engage in formal and strategic succession planning in order to sustain their market share and foster innovation and growth. The study revealed that succession is a fundamental factor for the sustainability of the family wineries and in general the growth of the Cyprus wine sector.
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Globalisation and Small Business (IJGSB):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email subs@inderscience.com