Date of Conferral

4-8-2026

Degree

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

School

Management

Advisor

Walter McCollum

Abstract

Family business succession remains a persistent challenge, as many family-owned enterprises fail to survive transitions in leadership and ownership. Family business owners and stakeholders are concerned with ineffective succession because failed transitions can threaten business longevity, family relationships, and the preservation of multigenerational wealth and legacy. Grounded in the family business three-circle model and stewardship theory, the purpose of this qualitative pragmatic inquiry was to explore effective succession strategies used by some family business owners to improve succession outcomes. The participants were eight senior family business owners in Texas whose business revenues were between $3 million and $250 million. Data were collected using semistructured interviews and a review of public documents. Through thematic analysis, five themes were identified: (a) preparation, planning, and structure; (b) leadership and successor development; (c) family dynamics, communication, and legacy; (d) stakeholder and external engagement; and (e) measuring success through financial and nonfinancial metrics. A key recommendation is that family business owners establish a combination of internal and external advisers to help improve decision quality and prevent family silos. The implications for positive social change include the potential for family business owners to implement effective succession strategies that sustain business continuity, preserve multigenerational wealth, and support employees and local communities.

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