The Role of Successors in Implementing Digital Transformation and Its Impact on the Business Success of Family Enterprises

Tenth International Scientific-Business Conference LIMEN Leadership, Innovation, Management and Economics: Integrated Politics of Research

Tanja Gavrić - University VITEZ, Faculty of business economics, Školska 23, 72270, Travnik, Bosnia and Herzegovina ORCID

Darijo Jerković - University VITEZ, Faculty of business economics, Školska 23, 72270, Travnik, Bosnia and Herzegovina ORCID

Keywords:

DOI:

10.31410/LIMEN.S.P.2024.49

Abstract:

This study investigates the critical role of successors in implementing digital transformation within family businesses and its subsequent impact on business success. Based on a survey of 82 businesses, results show that successors who drive digital initiatives experience significant improvements in operational efficiency, market competitiveness, and financial performance. However, 58.5% of successors reported facing resistance from older generations, mainly due to fear of change, lack of understanding, and concerns over loss of control. Strategies such as education and gradual implementation prove effective in overcoming these barriers, highlighting the importance of cross-generational collaboration for sustainable success.

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Tenth International Scientific-Business Conference LIMEN Leadership, Innovation, Management and Economics: Integrated Politics of Research - LIMEN 2024 - International Scientific-Business Conference – LIMEN 2024: Vol 10. Selected Papers , December 5, 2024

Conference Proceedings published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia

ISBN: 9788680194936 , ISSN: 26836149 , DOI: 10.31410/LIMEN.S.P.2024

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission.

Suggested Citation

GavriΔ‡, T., & JerkoviΔ‡, D. (2025). The Role of Successors in Implementing Digital Transformation and Its Impact on the Business Success of Family Enterprises. International Scientific-Business Conference – LIMEN 2024: Vol 10. Selected Papers (pp. 49-57). Association of Economists and Managers of the Balkans, Belgrade, Serbia. https://doi.org/10.31410/LIMEN.S.P.2024.49

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