The Review of Sustainability and Succession Planning of Family Business Hotels
List of Authors
  • Aslinda Mohd Shahril, Nurul Alya Atirah Asri, Zatul Iffah Mohd Fuza

Keyword
  • Sustainability; Succession Planning; Family Business; Generation

Abstract
  • Family businesses are an important aspect of the global economy. They account for 70% to 90% of all businesses worldwide. However, they must cope with issues such as balancing personal and professional commitments, managing succession, and operating the businesses they own in creative ways. In Malaysia, the study of family-owned hotels is expanding, although there is few formal research on sustainability and succession planning. This study intends to conduct a systematic literature review (SLR) on these themes utilizing secondary sources, assessing current academic contributions while taking into account contextual interpretations of earlier research. The network analysis demonstrated how more than 300 author-introduced keywords were associated to one another. The researcher only preserved the ones that had at least three appearances, resulting in 19 key words demonstrating the primary ideas. The VOSviewer application displayed keyword frequency as a function of node size. This resulted in a diversified and interconnected research framework that emphasized both well-known issues and emerging areas of interest, such as sustainability and succession planning. The findings indicate that family influence is significant when making operational and strategic choices in the hotel industry. This research is important because it demonstrates in detail how sustainability and succession planning techniques may help familial businesses remain in business for a long time, strengthen leadership across generations, and promote sustainable tourism growth.

Reference
  • No References Recorded