Modeling the effect of continuity and change as paradoxical forces in the inter-generational transition process of family businesses

Continuity and change are typically considered as two antithetical concepts, and their coexistence would seem paradoxical. The dilemma for family businesses undergoing inter-generational transition is how to balance these two paradoxical factors - i.e., continuity and change, especially as leadership transitions from senior generations endowed with a bundle of rituals to junior ones. A qualitative research methodology with an abductive analysis approach was applied. Ten successful and mature family-owned businesses operating in Lebanon were contacted and agreed to participate in the study. Interviews with senior and junior generations were conducted. Through adopting a family business imprinting perspective, the study theorized how the continuing legacy of senior generations shaped different approaches to change and continuity depending on the content imprinted on the junior generations. The unique contribution of this paper lies in identifying how family businesses resolve this paradox. This paper found that they do this through four distinct strategies - protecting the inheritance, keeping the spirit, renovating the rituals, and nurturing memories.