Sequence is similar to the essential piece in a puzzle: it makes it feasible for the rest of the pieces to fit together. It also ensures that the firm created and developed by the founder will probably have the ability continue its activities productively in ways which will be sustainable through time.
The sequence procedure must safeguard the continuity of the business. It has to also cement harmony and unity within the family, renewing and strengthening family members' devotion to the business. Series is a key dilemma for the development of any business, whether it's family-owned. In the event of family businesses, the complexities that are inherent to the sequence process are complicated even more by the mental pressure that's created during discussions about enactment and the preparation of the sequence within the family.
Succession in the Family Business From the 1st to the 2nd Generation case study solution
PUBLICATION DATE: February 05, 2013 PRODUCT #: IES385-PDF-ENG
This is just an excerpt. This case is about STRATEGY & EXECUTION
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