Identification of success factors for sustainability in family businesses: Case study method and exploratory research in Japan

Abstract

Purpose

The purpose of this paper is to identify the important factors for sustainability in Japanese family businesses. Family businesses in Japan are well prepared in succession planning and have the greatest longevity of any in the world.

Design/methodology/approach

In this study, 15 family businesses in Japan were explored in the food and beverage, confectionary, services, handicraft, pharmaceuticals and manufacturing sectors.

Findings

The important sustainability factors identified in this study, innovation, competitive advantage, leadership and team management, and establishing good relationships with the local community are the key steps for achieving family business succession.

Originality/value

Startups and new family businesses in other countries can learn how to run a company successfully based on the Japanese model by applying the keys to success.

Citation

Chirapanda, S. (2020), "Identification of success factors for sustainability in family businesses: Case study method and exploratory research in Japan", Journal of Family Business Management, Vol. 10 No. 1, pp. 58-75. https://doi.org/10.1108/JFBM-05-2019-0030