The Influence Of Intergenerational Inheritance Of Family Business On Innovation Ability

The private economy plays an increasingly important role under the background of constant and vigorous development of our market economy.As an important part of the private enterprise,the family business is also an important contribution to our national economy.However,there is an unprecedented challenge for the family business.On the one hand,since the family business was established in the period of reform and opening up,the age of the first generation of entrepreneurs continues to grow,many family businesses need to inject fresh blood,intergenerational inheritance of family businesses is an urgent task.However,due to the complexity of intergenerational inheritance,there are numerous cases of failure of intergenerational inheritance of family enterprises.Therefore,the success of intergenerational inheritance is an important problem facing family businesses.On the other hand,with the development of our digital economy and the constant change of market demand,traditional enterprises can only achieve long-term stable development in the fierce market competition by constantly innovating and implementing transformation and upgrading.Most of our family businesses are traditional enterprises.Only by constantly strengthening innovation ability can we improve its core competitiveness and realize the goal of evergreen foundation.Therefore,it is very important to analyze the relationship between intergenerational inheritance and innovation ability of Chinese family firms.Does the intergenerational inheritance of Chinese family businesses have a positive or negative impact on the innovation ability? What factors in the intergenerational inheritance of a family business will affect the innovation ability of an enterprise? Studying these problems can not only enrich the academic theoretical research on intergenerational inheritance and innovation ability of family firms,but also provide practical experience and reference value for Chinese family firms to give consideration to enterprise innovation during intergenerational inheritance.This paper takes Wens Foodstuff Group as the research object,elaborates the intergenerational inheritance process of Wens Foodstuff Group,and the change of the company’s innovation ability before and after the intergenerational inheritance,and analyzes the specific path of the influence of the intergenerational inheritance of Wens Foodstuff Group on its innovation ability.Among them,when measuring the innovation ability of Wens Foodstuff Group,this paper evaluates from three aspects: innovation input ability,innovation output ability and innovation transformation ability.Through the above analysis,this paper finds that the intergenerational inheritance of Wens Foodstuff Group has a positive effect on its innovation ability.In the intergenerational inheritance,the personal experience of the second generation,the type of social emotional wealth,the inheritance of social capital and the establishment of the authority of the second generation all have an impact on the innovation ability of the enterprise.At the same time,after promoting the improvement of innovation ability,the intergenerational inheritance of Wens Foodstuff Group also has a positive effect on the financial activities and business activities of the company.The operating performance of Wens Foodstuff Group has been significantly increased,the main business has been optimized and upgraded,and the market competitiveness has been continuously enhanced.Through the analysis of Wens Foodstuff Group,this paper draws the conclusion that the intergenerational inheritance of family business has a positive impact on its innovation ability,and puts forward relevant suggestions for family business.Specific suggestions are as follows:(1)Develop a complete intergenerational succession plan;(2)Implement the progressive inheritance mode;(3)To improve the emphasis of family enterprises on innovation;(4)Pay attention to the accumulation of extended social emotional wealth.