Succession in family businesses: an opportunity to change the business model

Succession is a critical moment in the life of family firms. It often takes several years, during which time the predecessor gradually gives way to their successor. Although it can be an opportunity to change the business model (BM), the predecessor can often find it difficult to accept. Here, we report on a study of the characteristics of the BM in a sample of Moroccan family businesses, and explore the role of succession in its evolution. Our results show that inter-generational renewal is a key determinant. In particular, we find that a period of joint management, when the successor and their predecessor share responsibilities, allows the successor to propose changes. This approach also ensures that any conflicts that may arise between the predecessor, who seeks a certain level of stability, and the successor, who is hungry for change, can be managed by a dialogue that unfolds within the family.