Module 3: Innovation and Adaptability

Summary

This module explores the critical roles of innovation and adaptability in the context of succession planning for SMEs. This module aims to equip you, as a successor, with the necessary skills and insights to navigate and lead your business through transitions effectively. You will learn to connect innovation and succession, recognizing how these elements collectively contribute to the longevity and success of an SME. The module emphasizes the importance of fostering a culture of innovation and adaptability to ensure the business remains competitive and relevant in a constantly changing market.

Moreover, this module addresses overcoming common barriers to innovation, such as limited resources and resistance to change, by engaging in collaborative projects and implementing change management practices.

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Additional Resources

Comparing Innovativeness in Family-Owned Manufacturing SMEs: Within-Family Successions versus External Takeovers

This article compares succession and innovation in family-owned manufacturing SMEs between within-family successions and external takeovers, highlighting differences in innovation focus and strategic priorities. It identifies inertia due to contextual values and successor choices, influencing innovation strategies differently in each scenario.

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Nachfolge in Deutschland – Übersicht von Matchingplattformen und Börsen

Umfassende Übersicht über zahlreiche Matching-Plattformen / Unternehmensbörsen für Unternehmensinhaberinnen und -inhaber sowie potenzielle Nachfolgende. / Comprehensive overview of numerous matching platforms in Germany for business owners and potential successors.

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Innovation in Family-Owned Businesses Across Generational Transitions

This study investigates how family firms’ innovativeness changes between generations during succession. Based on qualitative research with founders and successors across four case studies, it identifies distinct dynamics influencing innovation transfer, influenced by founders’ and successors’ approaches.

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Succession in Family Businesses and Innovation: A Comprehensive Literature Review

This paper showcases the impact of succession on innovation, knowledge sharing dynamics, and barriers to innovation within family businesses. It illustrates a theoretical framework of the relationship between succession and innovation outcomes.

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Module 2: Succession Planning: Developing Entrepreneurial Skills with EntreComp

Module 4: Change Management