Exploring level of commitment of the next generation that impacts motivations to inherit small-medium sized family business: case study of Thailand.

Abstract

The objective of this study is to explore the different level of commitment of the next generation that impacts motivations to inherit small-medium sized family business. The research was conducted by comparing the factors that have been found in this study and the factors in motivational theories: Motivation, Deci and Ryan’s self-determination theory and the three components model of commitments. The result of this study shows external factors and internal factors have played an important role of the succession procedure. The finding showed that commitments impact motivations of the successors. This also led to happiness outcomes at work. Recommendations for the family business to prepare the future leader of the company have been provided in the conclusion part.