Increasing Success in transferring Companies - Succession Planning and Transfer - a new holistic Approach with the ENTER-transfer Model
J. Schiefer, M. Überwimmer, R. Füreder, S. Wiesinger - Increasing Success in transferring Companies - Succession Planning and Transfer - a new holistic Approach with the ENTER-transfer Model - Proceedings Cross-Cultural Business Conference 2019, Steyr, Österreich, 2019, pp. 271-278
The transfer of a business to the next generation is a critical step in the cycle of a company. If this step fails, the business has to be liquidated. Many working places, company knowledge and values as well as other resources are lost in such a case.
Positive trends, such as the decline of nepotism and other social changes are accompanied by negative factors, too. With respect to family business, transfers within a family or com-pany are becoming increasingly difficult. Therefore, an international positioning in order to be more attractive for external investors has become more important for family businesses.
Although there are several business transfer models available, the models usually focus on family transfers and miss the international transfer aspect. We elaborated a new business transfer model together with eight CEE partners. The model can be used at a very early stage of the business transfer process. It consists of many scientifically elaborated ques-tions for different stages during the transfer process. Based on this self- evaluation, the model gives the user feedback of his current progress stage. Additionally, information about “further steps” is given. The model can be used by an entrepreneur who transfers his busi-ness within the family, within a company or to external investors. As the model starts at a very early stage, it can also help the entrepreneur with the decision to whom (e.g. children, employees, and investors) the business should be transferred to.
The model aims at being a reliable support and addition to available check lists and infor-mation material. The next step is to realize an international “transfer web-platform” which should further support external investments.