WINE SECTOR DEVELOPMENT: A CONCEPTUAL FRAMEWORK TOWARDS SUCCESSION EFFECTIVENESS IN FAMILY WINERIES

This paper provides a conceptual platform of reflection upon abundant research work, which has been recorded over the past thirty years on the topic of executive succession in family firms. Secondary research through systematic literature review serves as a starting point. Many of various influential studies have looked at the key factors that are believed to foster succession effectiveness. Fourteen defined factors provide insight to this direction. These are, a. incumbent characteristics and qualities, b. incumbent tenure, c. successor skills and attributes, d. successor training and development, e. successor origin, f. incumbent-successor expectations, g. succession ground rules, h. family dynamics, i. board of directors, j. organizational performance, k. organizational size, l. organizational age, m. transfer of capital, and n. succession monitoring and reflective feedback. Our synthesizing effort proposes an encompassing conceptual framework that joins aforementioned factors together and gives prospects to succession effectiveness in a specific form of business organization-the family owned wineries. In addition, our paper highlights gaps in the conceptual understanding and knowledge as well as areas of additional research. The theoretical limitations and practical implications of the framework are also discussed.