Many research findings provide support for the significant relevance of the educational level for a successor’s performance and effectiveness of a succession process 1, 2, 3, and the successor’s educational level is becoming an important selection criterion 4. A successor should be trained as an entrepreneur at the academic level 5 and be exposed to new ideas and trends in management and business in the process of obtaining a formal education 6. In the fast-changing competitive environment, it is no longer enough to know how to perform a specific activity; an ability to create new knowledge is also of crucial importance. Formal education enhances a successor’s absorptive capacity, thereby also influencing his/her capability to acquire and create new knowledge 7 and enabling successors to better articulate and structure the knowledge-transfer process 8. The formal education of successors should emphasize skills like critical thinking, creativity, communication, user orientation, and teamwork as well as using domain-specific and linguistic knowledge. As entrepreneurship studies cover all these, we present two cases of educational institutions in Slovenia in the next chapter.
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