• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.1
• /
• pp.199-206
• /
• 2021

This study investigated the main concerns and strategies in Indonesian large family businesses to undertake intergenerational succession effectively. The research data was obtained to shed light on the incumbents' mindsets, key preferences, and experiences during the succession process. Access to incumbents of large family businesses that are conglomerates is scant. The preceding survey research was conducted to sensitize with the intricacy of the intergenerational succession process in large family businesses before entailing interpretative phenomenology analysis of qualitative data from interviews, observations, and field notes by approaching family members in five conglomerate groups that have major impacts on the economy. The findings explicate the incumbents' preferred criteria in choosing their successors as well as their perceived concerns revolving around the appointment. Additionally, the incumbents' succession approaches such as apprentice learning by successors, adaptability to external forces by successors, nurturing the entrepreneurial spirit in successors, governance establishment in the firms, business interest stimulation in successors, role modeling by incumbents, and collaboration between family and key non-family members are elicited during the intergenerational succession process. This study concluded with noteworthy implications for incumbents and successors in large family businesses, especially providing explicit criteria and strategies to appoint suitable successors, and suggesting potential avenues for future research.

• Journal of Agricultural Extension & Community Development
• /
• v.21 no.4
• /
• pp.939-965
• /
• 2014

Farm succession in the next generation has profound implications for the future structure of the agricultural industry and the procurement of agricultural human resources. Therefore, this study sought to suggest the policy directions for farm succession through investigating the foreign policies and comparing it with Korean policies. The followings were derived from the comparison analysis. First, support is required in establishing master plans for farm succession from operators to successors. Second, it is needed to develop and disseminate effective model for farm succession. Third, an assistance policy for farm households without successors should be initiated. Fourth, the fragmentation of farmland ownership should be counteracted.