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In the lecture „Self-transformation of the Senior Generation“ (2024), which took place as part of the 51st WIFU Online Forum, Dr Simon Caspary explains the internal processes that may be associated with the handover of a family business. The focus is on how senior business owners experience stepping down from operational responsibility, what feelings and resistance may arise in the process, and why letting go should be understood as an active process of transformation.
The talk makes it clear that handing over responsibility does not merely entail a change of position or status, but also requires a personal reorientation. Issues such as coming to terms with loss, changes to daily routines, new relationships with family and successors, and the question of purpose and future effectiveness play a central role in this process.
Using the „five pillars of identity“ model, this article demonstrates how older people can reflect on and strengthen their resources – for example, in the areas of health, social networks, work and achievement, material security, and values. The presentation thus offers practical insights for entrepreneurial families who wish to shape succession processes not only from an organisational perspective, but also with due consideration for emotional and personal factors.
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Keywords
Family business
Succession
Letting go
Older Generation
Business succession
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