Successor Cultivation Model Study Of Interior Succession In Family Business Of China

Family business in China was first born in the last of the 70s to the beginning of the 80sin 20th century. After tens of years development, family business of China is stepping to theperiod of succession. According to a research, most of the family business enterprises live ashort life: the middle-size lives only 3-5 years and the big-size lives no more than 10 years.Besides, about 80% family business enterprises could transfer to the second generation, andonly 13% could successfully transfer to the third generation. So that, family businessenterprise succession had already become an important problem that affects its subsistenceand development.Affected by Chinese tradition culture, imperfect professional manager marketplace, aswell as the low level society credit, many of the Family business enterprises in China arepattern to the Interior Succession when they are facing to the succession problem. Thus,successor cultivation problem in interior succession process of family business is chosen asthe object of study in this paper. Base on a great quantity studies and a deep consideration onthe Career Life theory, we build a model named Successor Cultivation Model in InteriorSuccession Process of Family Business. It combines the Career Life theory as well as thetransfer of Family Business organically, that is: Grows-Up and Probe stage vs Cultivate andPrepare stage, from 0 to 24 of the Successor; from 25 to 44, Establish stage vs Workingtogether stage; and from 45 to 64, the successor steps into the Handing-over stage, taking overthe whole business.In the chapter 2-4, deep analyses is given by the author. In order to improve the effect ofSuccessor Cultivation, the author firstly points out the trates of certain career life and the mainchallenge in each chapter. After that, suggestions on how to cultivate successor are given.Thesis Conclusion:(1)Combining the Career Life theory with the successor cultivation in transferring.(2) Distinguish the main challenge in every stage and choose the right tasks to treat withit.