Date of Conferral

8-29-2025

Degree

Doctor of Business Administration (D.B.A.)

School

Management

Advisor

Roger Mayer

Abstract

Many family-owned businesses face significant difficulties when they hand leadership responsibilities from established leaders to the next generation. Without deliberate succession plans that follow a clear framework, family-owned business leaders experience uncertainty, threatening family wealth. The intergenerational sustainability of family-owned enterprises is crucial for the health of local economies, community development, and organizational resilience. Grounded in the sustainable family business theory, this project explored succession strategies employed by leaders of family-owned small and medium-sized enterprises (SMEs) in Hawaii to ensure the continuity of their businesses for future generations. Data were gathered through semistructured interviews and document analyses involving six leaders of family businesses who have effectively navigated generational succession. Through thematic analysis, several key strategies emerged, including (a) the necessity of succession planning, (b) embracing and overcoming common challenges, and (c) effective succession strategies. A key recommendation is for family business leaders to start succession planning at an early stage in the business lifecycle. The implications for positive social change with the development of succession planning strategies increase the potential for the long-term sustainability of the business. Successful family-owned business leaders benefit the local economy by generating increased profits and employment opportunities.

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