Nicholson, Gavin John (2018) Succession Planning Management (SPM): A Case Study of Vietnamese Family Owned Business in Australia. Other Degree thesis, Victoria University.

Abstract

Succession Planning Management (SPM) is the process of management ownership leadership transition from incumbent to successor. SPM is directly related to governance for family owned businesses (FOB’s) and an effective succession plan helps to provide a degree of confidence that is necessary for the proper functioning of a market economy. As FOB’s contribute some thirty-three percent of the nominal gross domestic product (GDP) to Australia’s social and economic environment, effective SPM is clearly an important consideration in ensuring the continuity of the family business structure. This study reports a case study of succession planning management in eight Vietnamese family owned businesses in Australia. In 1975, people from Vietnam formed the first mass migration of Asian people to Australia and have since established themselves in business, politics and education. This study presents a dynamic conceptualisation of Vietnamese family owned business, illustrating SPM practices in the community as reflective of three rising levels of influence: succession planning, that it is defined initially by the founder’s personality and experience, by wider community influences and then by the selection, preparation and the successors elevation to the head of the family business. The successors describe how Vietnamese cultural beliefs shaped their transition into the family business and their efforts to be accepted as a competent choice by the founder, to be accepted as the patriarch of the family, and to be seen in the wider business community as having the same business acumen and social standing as the founder. The collected research data, identifies push and pull factors that are linked to contextual, relational and business transition factors and are reorganised into three action orientated themes: to control, to thrive and to survive. These themes contribute to the formulation of a suggested SPM framework for Vietnamese FOB. Finally, the study illustrates SPM transition from the founder (1st generation) to the current generation (2nd) and provides an extension for future research (3rd generation) for SPM in Vietnamese FOB in Australia.

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