Holistic competence of the successor as the appropriate selection criteria for the baton change in a successful way

Abstract

"Business Succession" of family owned business has generated poor success and due to a number of factors including poor level of competence of the successor. The competence of the successor directly affected by the success of the whole succession process, because he is the Chief Executive after taking the baton in his hand. Under this background, identifying successor's level of competence is very substantial for the future prosperity. But there is no theoretical knowledge base to identify whole competencies of the successor. Porvaznik and Coil's (2008) "Model of discrimination of competence pillars" is discussed about the competence of the individuals. This can be used as a framework to fulfill that requirement, since it has enclosed all three pillars of competence.