An insightful article from FamBiz.com titled: Tag. You’re It! Defining Future Roles in the Family Business, highlights the importance of dealing with the sensitive topic of leadership succession in a family business, and that the benefits of doing so outweigh the risks:
"As the younger generation takes on a more active role in the family business we need to better define their job positions and responsibilities to avoid conflict. In real-life, few family businesses really formally prepare the next generation for leadership, because
it’s a little like succession planning where it’s often treated as a process you need but don’t want to work on. Avoiding the discussions increases the likelihood of future job role confusion and conflict and having a higher number of family members entering the company than the business can support".
Click here to read more...
"As the younger generation takes on a more active role in the family business we need to better define their job positions and responsibilities to avoid conflict. In real-life, few family businesses really formally prepare the next generation for leadership, because
it’s a little like succession planning where it’s often treated as a process you need but don’t want to work on. Avoiding the discussions increases the likelihood of future job role confusion and conflict and having a higher number of family members entering the company than the business can support".
Click here to read more...
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