Experiential Knowledge as well as Social Capital of Founders for Innovativeness of Successors in Smaller Family Firms

The main goal of our research was to examine the importance of transferring tacit and experiential knowledge as well as social capital of founders for innovativeness of the next family generation, i.e. successors in smaller family firms. Data were collected through in-depth case studies, including face-to-face structured interviews with 20 founders of smaller family firms and their successors. The research was carried out in Slovenia, which in our opinion still belongs to transition economies. Namely, transition from an economic-developmental aspect means transition from routine to innovative economy and society, which Slovenia has not achieved yet. Therefore, we find the innovativeness of next family generation owners and/or managers as crucial for transition of Slovenia to innovative economy and society. We assume that findings of our research may also have implications for other transition economies.