The lack of succession planning has been identified as one of the most important reasons why many first‐generation family firms do not survive their founders. This paper explores some of the factors that interfere with succession planning and suggests ways in which these barriers can be constructively managed.

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This study models the influence of family relationships on succession variables, using a sample of 130 participants from 109 family businesses. Results suggest that the effects of family adaptability and family cohesion on succession planning and successor training are determined by the family'S commitment to the business and the quality of the owner-manager and successor relationship. The study finds that the influence of family relationships on administrative behavior in family businesses is not always direct, as was previously assumed, but is mediated by various factors.

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This article presents the findings of an interview case study of six family foundations. The study explored the impact of family dynamics on organizational structure, grant‐making procedures, board continuity, and board and staff interaction. The core finding was that developmental stage—as measured by generation, beginning with the founder—is of critical importance in understanding the operations of family foundations. The article concludes with a series of hypotheses for future research.

Most Latin American economies are dominated by large cosmopolitan family businesses referred to as grupos. This article examines how the unique economic, political, and sociocultural characteristics of Latin America affect the ownership, management, and family dynamics of these organizations.

2 We have focused on family enterprise continuity as researchers, teachers, and consultants for over 30 years. Our firm has advised hundreds of business families from around the world, including the United States and Canada, Latin America, Europe, Asia, and the Middle East.

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