National training framework needed to save the family firm: Canadian study reveals HRM and succession crisis

Abstract

Purpose

Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

Small family firms are the bedrock of the Canadian economy, yet only a small proportion last into the second generation. When family businesses fail, the impact on the family is usually severe. However, with around 94 percent of Canadian businesses being categorized as family firms, there is much more than personal financial grief at stake – for the sake of national competitiveness, politicians really need to focus on the family.

Practical implications

Provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.

Citation

(2005), "National training framework needed to save the family firm: Canadian study reveals HRM and succession crisis", Development and Learning in Organizations, Vol. 19 No. 6, pp. 22-24. https://doi.org/10.1108/14777280510624303