| dc.description.abstract | This thesis is an exploratory study undertaken to analyse Irish BMW Dealerships and
whether they plan for succession and the taxes to be paid on the death or retirement of
the founder. This study also explores the composition of the family business and the
involvement of family members in the family business to ascertain the extent of
generational transition.
A substantial body of the literature is reviewed which initially defines succession in
family business context. It then specifically highlights the meaning of succession
planning and emphasizes the importance of succession planning for businesses. The
literature review explores the many merits gained by having a succession planning
process in operation within the business. Finally, the problems of succession and the
ambivalence towards it are also explored, putting forward explanations as to why
family businesses resist succession planning and the multitude of consequences that
can arise when the process is ignored.
The research methodology involved both quantitative and qualitative collection of
data. The quantitative research was conducted using postal questionnaires and follow
up emails. The qualitative research focused on one-to-one interviews with a family
business specialist and a senior manager of BMW Ireland.
The evidence from the analyse of the questionnaires suggests that the majority of Irish
BMW Dealer Principals do plan for succession, however some of the respondents were
of the belief that is was too early to plan for succession since they were still quite
young. There was a general agreement amongst all the Dealerships that it was
advisable to consult external professionals concerning succession and taxation
planning.
The findings also suggest that many of the Dealer Principals are making provisions for
the taxes to be paid on death or retirement and thus availing of the numerous tax
concessions available. | en |
