THE ROLE OF MILLENIALS AND GEN Z IN FAMILY BUSINESS

Abstract

This study examines generational differences between Millennials and Generation Z in the context of family businesses in Indonesia, focusing on perceptions of innovation and intergenerational collaboration. Using a descriptive-comparative quantitative approach based on secondary data analysis, this research reanalyzed datasets from prior empirical studies involving 120 respondents (60 Millennials and 60 Gen Z) who were actively engaged in family business management. Data were processed using descriptive statistics and Independent Sample t-tests in SPSS version 26 to identify differences between generational groups. The findings reveal a significant difference in innovation perception (t = 3.145; p = 0.002), indicating that Generation Z demonstrates a higher tendency toward adopting new ideas, digital experimentation, and technology-driven innovation compared to Millennials. However, no significant difference was found in intergenerational collaboration (t = 0.612; p = 0.542), suggesting that both generations maintain a relatively strong and balanced commitment to cooperation and communication within family enterprises. These results highlight the strategic potential of integrating Generation Z’s digital adaptability and experimental mindset with Millennials’ pragmatic and experience-based approaches to enhance business sustainability. The study contributes to understanding cross-generational dynamics in family business succession and emphasizes the importance of aligning innovation capacity with collaborative values in navigating the digital era.