Challenges and Issues in Transforming Traditional Enterprises

This study explores the challenges faced by traditional family businesses in attracting next-generation leaders, including resistance to change and limited innovation. It examines how digital transformation, improved governance, and innovation can revitalize these enterprises. The research proposes Family Business 2.0 as a modern framework that integrates technology, professional management, and strategic agility while preserving legacy values. The study further highlights its applicability across small, medium, and large family firms. By combining theory and practice, it contributes to academic and managerial discussions on sustaining family businesses across generations in an increasingly competitive and dynamic business environment.