Purpose

This paper aims to examine the opportunities of continuous family succession in operating small-to-medium-sized wineries (SMWs) in Victoria, Australia.

Design/methodology/approach

Using case studies from Victoria, an exploratory qualitative approach was used to explore the benefits of continuous family succession in this conceptual paper. This included interviewing participants from wineries about their perceptions about family business succession. Themed analysis was applied to highlight the findings and overall conclusions about why the wine industry was affected more than other industries with regard to family business succession issues.

Findings

The three main findings of this study include family succession is extremely important in building a story customers can relate to; family reinvestment opportunities for financial sustainability and innovation of the winery and family succession for future employment and legacy. These three findings highlight the way family business succession is integral to the successfulness of the wine industry.

Practical implications

Small-to-medium-sized wineries (SMWs) have many challenges including long-term financial sustainability and innovation opportunities. To assist in overcoming these challenges, the findings suggest winery owners need to create lasting legacy through story-telling, competitive advantage and family linkage (succession). This will assist wineries to create marketing campaigns focussing on family succession and brand attachment, seven opportunities for family reinvestment and innovation leading to financial sustainability and competitive advantage.

Originality/value

There is little research investigating family succession in the Victorian wine industry even though it is common practice and essential to marketing and communication campaigns. This paper supports continuous family succession as a legitimate marketing technique and long-term financial sustainability and innovation for small-to-medium-sized wineries (SMWs) through reinvestment opportunities. This is the first time small-to-medium-sized wineries have been defined as SMWs and reinvestment opportunities have been identified by wine stakeholders.

中文翻译：

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家族企业继承：维多利亚葡萄酒行业的机遇

目的

本文旨在探讨澳大利亚维多利亚州经营中小型酒庄（SMW）的家族连续继承的机会。

设计/方法论/途径

在这篇概念性论文中，利用维多利亚州的案例研究，采用探索性定性方法来探讨连续家庭继承的好处。其中包括采访酿酒厂的参与者，了解他们对家族企业继承的看法。应用主题分析来强调为什么葡萄酒行业在家族企业继承问题上比其他行业受到的影响更大的调查结果和总体结论。

发现

这项研究的三个主要发现包括：家族传承对于构建客户能够产生共鸣的故事极其重要；家族再投资机会以实现酒庄的财务可持续性和创新，以及家族继承以实现未来的就业和遗产。这三项发现凸显了家族企业继承对于葡萄酒行业成功不可或缺的作用。

实际影响

中小型酒庄 (SMW) 面临许多挑战，包括长期财务可持续性和创新机会。为了帮助克服这些挑战，研究结果表明，酒庄所有者需要通过讲故事、竞争优势和家族联系（继承）来创造持久的遗产。这将帮助酒庄开展营销活动，重点关注家族继承和品牌依恋、家族再投资和创新的七个机会，从而实现财务可持续性和竞争优势。

原创性/价值

尽管这是常见做法并且对于营销和传播活动至关重要，但很少有研究调查维多利亚葡萄酒行业的家族继承问题。本文支持将家族连续继承作为一种合法的营销技术，并通过再投资机会支持中小型酒庄（SMW）的长期财务可持续性和创新。这是中小型酒庄首次被定义为SMW，并且葡萄酒利益相关者也发现了再投资机会。