Developing next generation leaders

Transgenerational entrepreneurship are the 'processes through which a family uses and develops entrepreneurial mindsets and family influenced capabilities to create new streams of entrepreneurial, financial, and social value across generations' (Habbershon, Nordqvist, & Zellweger, 2010: p. 1). Developing next generation leaders lies at the heart of transgenerational entrepreneurship as it squarely focuses attention on those individuals - family or non-family members, who alone, or in collaboration, are responsible for the success and longevity of a family enterprise. This book aims to understand the pathways used by enterprising families around the world to develop next generation leaders. We set out to explore how leadership becomes an enduring source of advantage that is less dependent upon who is in a formal role and relies more upon the process by which the family's core values shape and build the next generation of leaders. When leadership development is considered as an underlying process, generational transitions become less rigid and episodic, thereby potentially less disruptive. Continuous shifting of roles and ongoing development of the current and next generations becomes an enduring source of advantage. In practical terms, our interest was to understand how the next generation members are introduced to the business and what it stands for? How do they become aware of the key decisions and defining moments of the past and the influences of those decisions on current practices? How do they become involved in entrepreneurial activities and decision-making of their family business? What opportunities -inside and outside the business-, prove useful in their development and growth as responsible owners? These are but a few of the types of research questions explored in this book.