Knowledge Transfer Strategies within Family Firm Succession

A firm's knowledge is considered a key strategic asset in the course of generating competitive advantages. However, especially within family firm succession, there is a high risk that knowledge embedded in the predecessor leaves the organization. Thus, in order to maintain the family firm's competitive advantage an understanding of the challenges regarding the knowledge transfer within family firm succession is needed. In this chapter, the authors employ a qualitative empirical approach to identify context-based knowledge transfer strategies and develop a typology of transfer constellations. The results provide insight for students, researchers, consultants, policy makers and family firm leaders, who are searching for the most appropriate knowledge transfer strategy given the nature, philosophies and traditions of specific small and medium sized family firms.