The Old, the New, and the Used One—Assessing Legacy in Family Firms

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annif.suggestionsfamily businesses|entrepreneurship|enterprises|families|business|business operations|change of generation|values (conceptions)|generations|societal responsibility|enen
annif.suggestions.linkshttp://www.yso.fi/onto/yso/p20094|http://www.yso.fi/onto/yso/p1182|http://www.yso.fi/onto/yso/p3128|http://www.yso.fi/onto/yso/p4363|http://www.yso.fi/onto/yso/p2439|http://www.yso.fi/onto/yso/p1181|http://www.yso.fi/onto/yso/p14845|http://www.yso.fi/onto/yso/p1044|http://www.yso.fi/onto/yso/p2209|http://www.yso.fi/onto/yso/p5604en
dc.contributor.authorPauceanu, Alexandrina Maria
dc.contributor.authorZaharia, Rodica Milena
dc.contributor.authorBenchis, Melisa Petra
dc.contributor.departmentfi=Ei tutkimusalustaa|en=No platform|-
dc.contributor.facultyfi=Johtamisen yksikkö|en=School of Management|-
dc.contributor.orcidhttps://orcid.org/0009-0001-1436-1515-
dc.contributor.organizationfi=Vaasan yliopisto|en=University of Vaasa|
dc.date.accessioned2025-05-05T10:11:22Z
dc.date.accessioned2025-06-25T14:01:29Z
dc.date.available2025-05-05T10:11:22Z
dc.date.issued2025-03-17
dc.description.abstractThe current study aims to determine the meaning and the role of legacy in the development of family businesses from the perspective of multigenerational family businesses. Employing Thematic Analysis (TA) and Gioia methodology, the transcript of in-depth interviews with representatives of five family businesses, from different industries (military products and wine, banking and jewelry) were analyzed and checked against the literature. The findings show that legacy is a complex process that evolves not only from its core elements, but as a part of business involvement in society. According to these elements, there are four patterns of legacy, namely legacy of knowledge, legacy of values, legacy of relationships, and legacy of contribution to society. These four patterns of legacy determine a specific type of doing business: “Sustainability Stewards”, “Knowhow Handover”, “Values Inheritance”, and “Intergenerational Blueprint”. Each type corresponds to a unique approach to managing and preserving the legacy within the family business. A set of best practices that family businesses seeking to consolidate their legacy is proposed as a practical value of this study.-
dc.description.notification© 2025 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).-
dc.description.reviewstatusfi=vertaisarvioitu|en=peerReviewed|-
dc.format.bitstreamtrue
dc.format.contentfi=kokoteksti|en=fulltext|-
dc.format.extent23-
dc.identifier.olddbid23249
dc.identifier.oldhandle10024/19142
dc.identifier.urihttps://osuva.uwasa.fi/handle/11111/3192
dc.identifier.urnURN:NBN:fi-fe2025050536545-
dc.language.isoeng-
dc.publisherMDPI-
dc.relation.doi10.3390/admsci15030106-
dc.relation.ispartofjournalAdministrative Sciences-
dc.relation.issn2076-3387-
dc.relation.issue3-
dc.relation.urlhttps://doi.org/10.3390/admsci15030106-
dc.relation.volume15-
dc.rightsCC BY 4.0-
dc.source.identifierWOS:001453600800001-
dc.source.identifier2-s2.0-105001386057-
dc.source.identifierhttps://osuva.uwasa.fi/handle/10024/19142
dc.subjectfamily business-
dc.subjectlegacy-
dc.subjectfamily legacy-
dc.subjectbest practices-
dc.subjectqualitative research-
dc.subject.disciplinefi=Julkisjohtaminen|en=Public Management|-
dc.subject.ysofamily businesses-
dc.titleThe Old, the New, and the Used One—Assessing Legacy in Family Firms-
dc.type.okmfi=A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä|en=A1 Peer-reviewed original journal article|sv=A1 Originalartikel i en vetenskaplig tidskrift|-
dc.type.publicationarticle-
dc.type.versionpublishedVersion-

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