Growth Strategies and Shared Vision in Czech Family Businesses

The aim of this thesis is to explore the strategic growth processes in Czech family businesses, with a focus on the influence of the shared vision and the attitudes of the incoming generation towards the future direction of the company. To address this issue, a qualitative research method based on in-depth semi-structured interviews was used. These interviews were conducted with ten respondents – founders and successors from five different Czech family businesses. The data was analyzed using Interpretative Phenomenological Analysis (IPA), which allowed for a deeper understanding of the personal experiences and attitudes of the respondents. The results of this research show how the studied family businesses grow and why they choose this type of growth. They also reveal that growth is not the goal of family businesses and can even be in conflict with their true goals and values, such as individualized approach, flexibility, and independence. Furthermore, the research clarifies the reasons why family managers prefer strategic thinking over formal methods and the advantages and challenges their informal approach to business management and family governance brings. Last but not least, the findings explain the key role of the shared vision in family businesses, especially in relation to the attitudes of the next generation towards the future direction of the company. This thesis provides valuable theoretical insights and practical recommendations for family businesses on how to improve strategic management and foster intergenerational collaboration within the family.