Succession Planning in Family Business: A Case Study of Dream Motors Limited, Trinidad.

This paper is on Succession Planning in Family Business, A Case Study of Dream Motors Limited, Trinidad. 
In this chapter the researcher discussed the topic of succession planning in family business, gave an insight into the background of the Case under study: Dream Motors Limited. Identified the research issue as- the founder of DML’s need to ensure there is a viable successor to continue and sustain the family business after his retirement. The potential value of this research was also addressed as one point is to recognise that there is no one prescription to successful succession planning in family business and that the findings of the research are intended to be culturally contextual for use by the company. The rationale, topic of Succession Planning in Family Business: A Case Study of Dream Motors Limited, research question “What are the strategies used for successful succession planning in family businesses?” in order to satisfy the aim of the study to remedy or mitigate the issue. Three objectives were also identified to achieve the mandate to answer the research question and move to achieving the desired aim. 
1.8 Research Question 
The central question in this dissertation asked: 
What are the strategies used for successful succession planning in family businesses? 
This question has been advanced in order to identify the strategies that can be implemented at the family owned business to solve or mitigate the problem of ensuring there is a viable successor to ensure growth, stability and continuity of the family businesses. 
This research involved undertaking exploratory/descriptive research in order to formulate the answer to the question posed. The focus of this research is on succession planning in family business, and the strategies that can be used to foster continuity and viability. 
1.9 Research Aim 
Based on the empirical and theoretical data provided, this research aimed to find family business succession strategies to remedy or mitigate the problem of ensuring there is a viable successor for the continuity of the family business. 
 
The research objectives are as follows: 
1. To analyse the current trends in succession planning related to family business. 
2. To analyse the strengths and weaknesses of the current practice of succession planning in family business. 
3. To synthesize the succession planning gap in family business. 
 
The literature review must be a critical review and show relevance and applicability to the study. 
It must contain a history of the study of family business along with a timeline of the development of the field. 
 
The Literature must speak to strategy, 
business ecology. 
Sustainability, Continuity. 
Look at family as the nucleus of all subsequent relationships. Family business dynamics’, f.b. governance; harmony, Founder and successor motives, best practices etc.The silver generation, millennial generation; 
Business ethics, 
Values, Culture etc. Legacy, 
Successor qualities, Transformational leadership and other applicable theories resonant/servant/situational. 
 
A Conceptual Framework, theories, on succession planning in family business that include Rothwell’s Seven point Star, Schein, Accelerated talent pool are expected. 
 
**Please note that I have already started a literature review, I used said for my proposal. Additionally, I have somewhat compiled a literature matrix.** My Methodology and questionnaires are informed by the literature I have already read. I am concerned about tie-in because I have collected data from four other family run businesses. I need help and you’re an expert… 
 
*Reference List and Referencing (Harvard 2015) 
(Students advised to have high level sources) 
 
I can provide the document that is in progress. Thank you. 
 
Literature Review (as given by advisor) 
This Chapter explores the main concepts identified in the Objectives. 
A literature review is not an annotated bibliography in which you summarize briefly each article that you have reviewed. 
While a summary of the what you have read is contained within the literature review, it goes well beyond merely summarizing professional literature. It focuses on a specific topic of interest to you and includes a critical analysis of the relationship among different works, and relating this research to your work. It provides a theoretical framework and rationale for a research study (such as a thesis or dissertation) (Mongan-Rallis, 2006). 
The Literature Review can be organised in chronological order or by thematic areas…it depends entirely on the selected topic(s). 
Referencing in the Literature Review (and throughout the dissertation is extremely important. Please be guided by ARU Referencing Guidelines. 
The author’s voice must be heard throughout the Literature Review and each paragraph must not begin with an Author’s Name and simply a restatement of what was said. This is not acceptable at this level. You are not trying to list all the material published, but to synthesize and evaluate it according to the guiding concept of your thesis or research question 
For example, you may say: 
While B author …indicated that there are three factors which directly impact competitive rivalry, C author added an additional two factors. These factors are of particular importance to this research since ….

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