This third guide in the series – Succession management in family companies – focuses on the complex and emotion-laden issue of succession from one generation to the next (in terms of both leadership and ownership succession). A structured, well-planned and systematic approach to succession planning is needed in order to overcome all the psychological forces that favour doing nothing.
Also, regarding succession as simply a question of transferring a tried and tested way of running the business from one generation to the next is a dangerous mistake. As well as a change of personnel, the transition will involve a fundamental change of system and culture.
The Family Business Management Series is an important initiative. It has been designed as a source of practical advice and guidance – pulling together some of the key research findings on family business management and the lessons of the our experience over 25 years of helping family businesses. We hope it will contribute to the efforts of these firms to achieve continuity, growth and prosperity in the years ahead.
Download Succession management in family companies today.
