Academic Journals Database
Disseminating quality controlled scientific knowledge

Understanding a Father-Daughter Succession Case: Applying the 5+5+5 Bernelli Model

ADD TO MY LIST
 
Author(s): Leann Mischel | Cindy Iannarelli

Journal: American Journal of Economics and Business Administration
ISSN 1945-5488

Volume: 3;
Issue: 2;
Start page: 270;
Date: 2011;
Original page

Keywords: Family businesses | succession planning | entrepreneurship | small businesses

ABSTRACT
Problem statement: Research on father-daughter succession in family businesses has only recently begun to get some traction. Still, examples of these situations often elude researchers. Futhermore, there has not been adequate attention paid to how children are raised in family businesses and how they learn to be entrepreneurial. Approach: This study outlines a father-daughter succession case in this unique American setting-the Appalachian Mountains of West Virginia. West Virginia offers an opportunity to examine family businesses embedded in the Appalachian culture-one where much of the popular and scholarly literature contend that deficiencies have contributed to, or reinforced, economic poverty and backwardness. These ideals are now being challenged and this case offers evidence of reversal. We also use the Bernelli 5+5+5 Model as a lens through which to examine the daughterÂ’s entrepreneurial growth in this case. Results: The Bernelli 5+5+5 Model allowed us to structure the daughterÂ’s experiences and better understand how she got to be such a successful successor. Conclusion/Recommendations: We recommend that the Bernelli 5+5+5 Model be used as a framework to view succession in family businesses. The Model also serves as a lens through which to view and better understand how children raised in family businesses become more successful entrepreneurs as adults.
Save time & money - Smart Internet Solutions      Why do you need a reservation system?