Trajectories of Increasing Managerial Competencies of Young Potential Business Heirs in Russian Family-own Companies

The purpose of this master's thesis is to identify techniques and methods for increasing managerial competencies by young potential heirs of family-own companies that are wants or aim to transferring management of the family-run business. The theoretical part of the research based on the scientific literature of family business, succession planning and knowledge management. Largest enterprises began as family-own businesses, and now they have become global corporations. Foreign practice shows, family organizations are the most flexible and viable, and it make a huge contribution to the development of the economy: the family business directly affects employment, poverty level and welfare of the nation in the country. Unfortunately, in Russia the family business has not yet received its mass development. The thesis consider possible options for transferring the family business when the owner leaves the company and factors that influence on success process. The transfer of business to family members is still the most preferable and difficult option for entrepreneurs. Other options for transferring are painful for the owner as well as for the family. The family business has unique resources, which formed because of the interaction of the family and business. Knowledge of how to use these assets is in the mind of the founder of the organization and therefore it is very important to transfer them to the successor for a more successful functioning of the organization in the future. The research examines the importance of knowledge and the improvement of the competencies of successors in the family business. To achieve the goal, were conducted a series of interviews with the owners and heirs of family organizations. Eventually, the reduction of quantitative and qualitative data into a single picture of the spectrum of trajectories of development of heirs yielded results on how heirs develop in current market conditions and how owners effect on their development.