Research On Entrepreneurial Tacit Knowledge Intergenerational Transfer,Management Decision And Succession Performance In Family Business

Family business has a long history,which is the most common form of organizations among small and medium-sized enterprises.Family Business is not only the core of world economy,but also the significant reserved force in the process of the development of China's private economy.China has a strong color of "family culture",the continuity and inheritance of family fortunes and family spirit is a key and focus issue in academia.Nowadays,the family firms in China largely have entered into a crucial moment of intergenerational inheritance during the nearby 40 years' development.Family business succession includes not only the generation change of ownership,but also contains the intergenerational transfer of entrepreneur ability.Entrepreneurial tacit knowledge resource plays a key part in family business capacity resource.The quality of family business succession largely depends on the successor's absorption,internalization and application to the key knowledge and skills of the incumbent.Meanwhile,it will directly affect the enterprise management decision whether the successor gains tacit knowledge of the incumbent entrepreneur efficiently.Therefore,whether the incumbent entrepreneur can successfully pass their tacit knowledge capital to successor,the successor receptivity and transfer into decision-making ability is closely related to family business inheritance from generation to generation.From the above,this paper adopts Zhejiang entrepreneurs groups as an example,emphatically studies the influencing mechanism of entrepreneurial tacit knowledge intergenerational transfer on family business performance and introduce the management decision as the intermediary variable in the research,which is based on the theory of resource-based view,knowledge-based view and knowledge transfer.Firstly,this paper puts forward the research hypothesis of the relationship between the three and constructs a basic theoretical model,based on the correlative literature review in the field of the entrepreneurial tacit knowledge intergenerational transfer,management decision and successful transition in family business.Then we carry out empirical study to explore the the functional mechanism of entrepreneurial tacit knowledge intergenerational transfer on family business succession performance and mediating effect of management decision with the method of questionnaire investigation.Next,SPSS statistical software is used for data statistics,analysis,hypotheses and theoretical model test.Through the empirical study,we found that entrepreneurial tacit knowledge transfer is positively correlated with the successful transition of family business and realizes the proliferation or loss through the management decision,which affects entrepreneur ability on a genetic level and determine the quality of family business succession.The main conclusions in this paper can be drawn as follows:(1)Entrepreneurial tacit lknowledge intergenerational transfer is positively correlated with the succession performance of family business.(2)Entrepreneurial tacit knowledge intergenerational transfer is positively correlated with management decision quality and management decision commitment,while has no influence on management decision speed.(3)Management decision quality and management decision commitment are positively correlated with the succession performance of family business.Management decision speed is significantly positively related to subjective performance dimension,while has no influence on objective performance dimension.(4)Management decision quality and management decision commitment have a complete mediating effect on the relation between entrepreneurial tacit knowledge intergenerational transfer and succession performance,while management decision speed has an incomplete mediating effect on knowledge commitment dimension and successful inheritance.Finally,we discuss and analyze the main conclusions of the paper and managerial implication for sustainable operation of family business and booming private economy.At the same time,we point out the limitations of this study and the future research directions have also been suggested.The analysis of the tacit knowledge transfer and successful succession in Zheshang family business and the logical relationship between them will definitely help to improve the competitiveness of the family business and provide reference and realistic guiding importance for nationwide family firm.