Identification of success factors for sustainability in family businesses: Case study method and exploratory research in Japan
Journal of Family Business Management
ISSN: 2043-6238
Article publication date: 29 October 2019
Issue publication date: 4 February 2020
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.
Keywords
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
Publisher
:Emerald Publishing Limited
Copyright © 2019, Emerald Publishing Limited