Presentation of the 2022 Kufstein City Thesis Award

With the Thesis Award, the city of Kufstein honors theses (master's or higher) that are thematically related to the city of Kufstein, its problems, opportunities and development possibilities. The award ceremony took place on January 11, 2023 and brought the graduate - in addition to recognition - prize money of up to 2,000 euros.

The graduate wrote her thesis on the topic of “Successful corporate succession in family businesses through the use of an interim manager” under the supervision of Director of Studies Prof. (FH) DDr. Mario Situm.

AWARD-WINNING MASTER'S THESIS

The master's thesis takes a close look at succession planning for family-run small and medium-sized enterprises (SMEs). Shareholders are mostly the families themselves, so they are not only in the role of decision-makers, but also of shareholders at the same time. If a company succession now occurs, for example from parents to children, the company finds itself in a stakeholder or strategic crisis. Usually without the stakeholders perceiving it as such. Between 35 and 50 percent of all transfers to the next generation fail. This makes it clear that this is a problem with far-reaching consequences for the economy, the region, the Tyrol and the town of Kufstein.

The reasons for a failed succession are varied: the transferor's inability to let go, a lack of controlling, or a late handover. However, the core problem lies behind this – a company succession is not a standard process, but a unique event. It cannot be trained for, and experience in the transition process is usually lacking.

The master's thesis now examines whether the use of interim management would be beneficial in this situation and how this use can best provide support. Based on expert interviews, it can be clearly confirmed that the involvement of interim managers usually does not occur in time to avoid crisis situations and that the use would generally have more advantages than disadvantages.

The results of the study show that interim management is the perfect accompaniment to a successful succession plan. Flexible use of interim management accommodates family businesses – sometimes management is needed, sometimes a coach. Consultants who already occupy a familiar position are often not the best choice, since tax advisors or lawyers, for example, only ever accompany part of the change process and do not take on an overarching role. Most family businesses realize that they need a succession plan. However, in the majority of cases, no active steps are taken to implement one, and if they are, it is often only when it is already too late.

USAGE OF SCIENTIFIC SERVICES FOR REGIONAL WELFARE

The City of Kufstein has been awarding this prize for pieces of academic writing and papers produced at the University of Applied Sciences since 2018. The papers selected have been very different so far, but they have one thing in common – their direct applicability for the City of Kufstein, its opportunities and its potential for development.

• 2022:
  Erfolgreiche Unternehmensnachfolge in Familienunternehmen durch den Einsatz eines Interim Managers
  Tanja Buchauer, MA; Master Corporate Restructuring & Reorganization
• 2021:
  Eignung von Elektroautos für die Durchführung von Langstreckenfahrten am Beispiel des Carsharing Anbieters Beecar
  Robert Werschnitzke, MA; Master in European Energy Business
• 2020:
  Einführen eines Change Management Prozesses als dauerhaftes Element in öffentlichen Verwaltungen
  Valerie Siobhán Grona, MA; Master Corporate Restructuring & Reorganization
• 2019:
  IP-basiertes Verkehrs Management
  Michael Erharter, MSc; Master Web Communication & Information Systems
• 2018:
  Untersuchung zur Marke Kufsteinerland und ihrer Wahrnehmung
  Bettina Anker, MA; Master in Sport, Culture and Event Management

Link:

• About the degree program in Corporate Transformation Management (formerly Corporate Restructuring & Reorganization)