A Study Of Strategic Change And Its Performance In The Intergenerational Succession Process Of Family Firms

The first batch of family businesses in China were established in the early stages of reform and opening up,so family businesses in China are bathing in the spring breeze of economic revival in China,making them an indispensable and important part of the national economic system.Data shows that 80% of private enterprises in China’s economic system exist in the form of family businesses.However,what we should see is that many of China’s family businesses have reached their fifties.Although they can have more rich experience in the capital market through hundreds of battles,the physical health issues of the new generation need to be given sufficient attention,and the issue of intergenerational inheritance of family businesses needs to be addressed urgently,Whether to choose "inheriting from one’s father or introducing professional managers",and how to implement strategic changes in the process of intergenerational inheritance,therefore,the intergenerational inheritance of family enterprises is not a simple matter,and whether the inheritance fails will not only affect the enterprise itself "Being rich for no more than three generations will also affect social and economic development,so it may replace the specific analysis of strategic change drivers and paths in the inheritance process,and use performance to reflect the effectiveness of the implementation of strategic change."This article selects New Hope Liuhe as the object of the case study to analyze the strategic changes and corporate performance in the intergenerational inheritance of New Hope Liuhe.This article consists of six chapters in total.Firstly,Chapter 1 presents the background of the chosen topic,the significance of the chosen topic,a review of relevant literature and commentaries,as well as the research methodology,content and innovations of this paper.Chapter 2 presents the definition and theoretical background of the three main concepts,specifically family business,intergenerational inheritance,and strategic change.The third chapter introduces the cases of New Hope VI and intergenerational inheritance,including the background and evaluation of the intergenerational inheritance process and inheritance mode.The fourth chapter analyzes the strategic change of New Hope VI and intergenerational inheritance,including two major parts: motivation and path.The fifth chapter is the performance analysis of the strategic change of enterprise intergenerational inheritance,The sixth chapter is the research conclusion,inspiration,and research prospects.The case company selected for this article is New Hope Liuhe,which uses three major methods: literature analysis,case analysis,and event research.The case study method in this article can provide a specific supplement to previous empirical studies on intergenerational inheritance.Macroscopically controlling the process of intergenerational inheritance can more intuitively reflect the implementation effects of strategic changes in different stages of intergenerational inheritance of family enterprises.Through the study of New Hope Liuhe and intergenerational inheritance,this article draws the following conclusions: First,strategic changes can help family enterprises achieve intergenerational inheritance,Second,strategic change in the co-management phase is more important than in the participatory management phase.The third is that the advantage of using the contact chairman system in family enterprises is more obvious.Therefore,this article has both theoretical and practical significance.That is,the case study can provide reference for other family businesses to inherit from generation to generation,as well as provide reference for investors to invest.