Dealing with increasing family complexity to achieve transgenerational potential in family firms

This article focuses on dealing with family complexity to achieve trans-generational potential in family businesses. It discusses how familiness evolves over time and deals specifically with sole founders and top management teams as key resources within the family's pool of resources (familiness) that tend to weaken over time, mainly due to family complexity. Through a qualitative case-based study, this chapter analyzes the role of succession, governance structures, and relations within the family firm. A thorough analysis of 22 interviews with family owners/managers and non-family executives suggests that family businesses that sustain their familiness advantage over time evolve from a sole owner into what we call entrepreneurial family team in order to absorb increasing family complexity.