classifies the preparation level of the potential successor into the following factors
which includes; the formal education level, training received from the incumbent, work experience (outside the
firms), entry-level position, and the number of years working with the family business before the succession take
place. Scholars also found a positive relationship between the preparation level that the potential successor has
had and the effectiveness of the succession process. The higher the preparation level that the potential successor
has, the higher the chance that he or she will take over the business after the incumbent steps down.