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Succession in family businesses represents an important stage in the life of the company, but also of the family, the success of the process being linked to the family heritage. Transferring the business to the next generation is a complicated process that involves a careful analysis of all elements involved (family, management, ownership). These elements will undergo important changes following the succession process. Consequently, the purpose of this study is to address some specific issues related to the technology-based family business succession process in Romania from the last decade when family businesses reached the point of the first business transfer. Specifically, there is the following research question: (Q) What are the new succession strategies given the major changes in the economic sector in recent years? The findings can provide clarifications or even suggestions for the successful development of the succession process in technology-based family businesses in Romania. [ABSTRACT FROM AUTHOR]

The main objective of the research is to analyze the factors which influence the intention to start an intergenerational family business in a developing economy, highlighting the measures that can be implemented by decision-makers to stimulate these initiatives. PLS-SEM was used to analyze the data issued from 200 valid questionnaires. The survey was applied to 950 individuals from Romania. We focused on four variables: the closeness to family members, the financial support expected from family, the independence of individuals regarding the intention to start their own business and the intention to form partnerships with family members. All the hypotheses were validated, according to the final results. Thus, closeness to family members has a direct and positive impact on both the financial support expected from the family and the intention to form intergenerational family businesses. There is also a direct correlation between the financial support received from family and the intention to have partnerships with family members. Individuals who are closer to their families are not interested in developing independent businesses. There are several studies on family businesses in Romania, but there is no research analyzing the impact of closeness to family on the intention to develop an intergenerational family business. The study is useful for the decision-makers who can create national strategies in order to stimulate families to develop their own businesses. [ABSTRACT FROM AUTHOR]

The flexibility of small business lies in their ability to seize the opportunities offered by the market and to adapt quickly to changes in demand. Small business, because of their relatively limited size and productive potential, cannot develop a wide range of products or services, being obliged to concentrate their activity on the production of homogeneous goods or services, within a restricted regulation. In the case of a small business, the character, skills, expertise, attitudes, and behaviour of the entrepreneur exert a decisive influence on the activity of the enterprise. This paper is focussed on analysing the evolution of active number of small businesses in Romania. In this direction we will present statistic research regarding the main forms of legal organization used in running small businesses, registered in the latest years in Romania. [ABSTRACT FROM AUTHOR]

Technology-based family businesses in Romania face several issues, including the delay of the succession process, outdated technology but also inefficient and maladapted management, not at all attractive for the new generation of successors - who have a different mentality and leadership approach and want their company either in step with the new trends. This paper presents the results of preliminary research work aiming at identifying management conflicts during the succession process in entrepreneurial, technology-based family businesses, active in the book printing industry. The research meth - odology involved secondary research (literature survey and databases search) as well as primary research (interviews). The example of real cases of management conflicts, but also of the way of resolving them is among the contributions of this article, useful to the new managers who took over the family business, who are in similar situations. [ABSTRACT FROM AUTHOR]

In this article, we intended to conduct an explorative analysis of how Romanian entrepreneurs relate to the issue of succession in their business. The data was collected through an online questionnaire, which was answered by 70 entrepreneurs. The main aspects investigated were the way in which Romanian entrepreneurs plan their retirement and succession and the preparation of future successors. Following this study, our main conclusion is that the owners of family businesses in Romania don't yet see this issue as being important. [ABSTRACT FROM AUTHOR]

Knowledge is one of the most important and fundamental resources of a company, providing it with the means to develop a competitive advantage and be innovative in the dynamic market, through creating, sharing, and transferring it within the firm. Family business distinguishes itself from others through the family connection that sets its mark on how the company is run and its highly contextual culture. Therefore, the purpose of this paper is to gain a deeper understanding of how knowledge transfer occurs in family businesses. This qualitative study aims to gather empirical data using the case study methodology by applying semistructured interviews. The cases comprise family businesses from Romania acting in different industries. The analyzed family businesses, when it comes to knowledge transfer, rely on their social interaction and are reluctant towards processes that imply externalization of their knowledge mainly out of convenience and the fact that this process did not prove its need. This leads to both positive and negative effects on the growth of the company and its longevity. [ABSTRACT FROM AUTHOR]

The present study approaches consultancy services in relationship to family businesses, focusing on the extent to which those services are used by this category of companies and the way in which they are used. The element of novelty of the research relates to the identification of a number of factors that influence the acquisition of consultancy services in family businesses (company characteristics and decision maker's features) and to their linkage to a number of characteristics of consultancy services. The theoretical model is applied on family businesses from Romani, an emerging market in Europe. Findings illustrate the existence of strong, weak and no existence at all of relationships between factors and consultancy characteristics, depending on the factor. Company related factors do influence the choice for consultancy services, meanwhile decision maker related factors seem to influence the least the analysed characteristics of consultancy in Romanian family businesses. [ABSTRACT FROM AUTHOR]