Challenges and Opportunities of Succession in Family Businesses: Slovenian Context and Practical Solutions

Authors

Anastasiya Nikolaeva Stoyanovich
NI-BA Woods d.o.o.
Domen Deu
Dines d.o.o.
Miha Marič
University of Maribor, Faculty of Organizational Sciences
https://orcid.org/0009-0001-6689-7944
Ivan Todorović
University of Belgrade, Faculty of Organizational Sciences
https://orcid.org/0000-0002-3792-582X

Synopsis

Family businesses are a key part of the economy, but they face specific challenges, especially when it comes to succession. Research shows that only 30% of businesses survive the transition to the second generation, and only 3% to the third. Succession involves the transfer of ownership and management, and the process is complicated by the influence of family relationships, emotional issues, and lack of preparedness. In Slovenia, where most family businesses were established in the early 1990s, company founders are approaching retirement. This moment represents a critical period, as their departure is often associated with unpredictable problems. A successful transfer requires careful planning, the involvement of family members, and an understanding of key factors such as the family structure, the ambitions of the successors, and legal and financial issues. In this paper, we present an overview of family entrepreneurship in Slovenia and the effectiveness of succession transfer, also using the example of the family business Dines d.o.o. In the discussion, we provide solutions for improving this process in family businesses.

Author Biographies

Anastasiya Nikolaeva Stoyanovich, NI-BA Woods d.o.o.

Anastasiya Nikolaeva Stoyanovich is a Master of Human Resources and Educational Systems who dedicated her master's thesis to researching the challenges of internationalization of family businesses. The entire research process was aided by the experience gained in the family business, where she is also employed. So far, she has participated in several scientific conferences, which represent an excellent opportunity for knowledge exchange and contribution to the academic debate.

Belgrade, Serbia. E-mail: stasa.stoj@gmail.com

Domen Deu, Dines d.o.o.

Domen Deu is a Slovenian entrepreneur associated with the family-owned company Dines, d. o. o., founded in 1989, which specializes in heating, ventilation and air conditioning. In 2017, he completed his diploma thesis at GEA College – Faculty of Entrepreneurship entitled "Innovative business model for the growth of Dines, d.o.o.", in which he analyzed the company's existing business model and proposed innovative strategies for its growth. In his work, he focuses on introducing modern solutions in the field of energy efficiency and sustainable development, thereby contributing to the continued success of Dines, d. o. o..

Ljubljana, Slovenia. E-mail: domen@dines.si

Miha Marič, University of Maribor, Faculty of Organizational Sciences

Dr. Miha Marič is a researcher in the field of leadership, management and organizational sciences. He received his PhD from the Faculty of Economics, University of Ljubljana. He is currently employed as an associate professor at the Faculty of Organizational Sciences, University of Maribor. His research interests are power, leadership, organizational behavior, human resources management, organization and management. He is the author of numerous original scientific articles, scientific monographs and chapters in scientific monographs and professional articles and contributions at scientific conferences. He is a member of the editorial boards of journals, has been an editor and reviewer and a member of the program committees of several international conferences. He also participates in research projects and consulting work.

Kranj, Slovenia. E-mail: miha.maric@um.si

Ivan Todorović, University of Belgrade, Faculty of Organizational Sciences

Belgrade, Serbia. E-mail: ivan.todorovic@fon.bg.ac.rs

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Volume

44th International Conference on Organizational Science Development: Human Being, Artificial Intelligence and Organization, Conference Proceedings

Pages

693-704

Published

March 19, 2025

Series

Razvoj organizacijskih znanosti

Categories

Copyright (c) 2025 University of Maribor, University Press

License

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

How to Cite

(Ed.). (2025). Challenges and Opportunities of Succession in Family Businesses: Slovenian Context and Practical Solutions. In 44th International Conference on Organizational Science Development: Human Being, Artificial Intelligence and Organization, Conference Proceedings (Vols. 44, pp. 693-704). University of Maribor Press. https://press.um.si/index.php/ump/catalog/book/962/chapter/317