Succession Planning

Family Business Surveys confirm time and time again that the handing over of the business leadership is very rarely planned.

A lot of people think succession planning is simply a case of abdicating the responsibility to a successor once the incumbent either decides to or is forced to retire.

Unfortunately this seems to be more than often common place where ‘birth right’ seems to have right of place over other important factors like ‘aptitude, skills, experience and desire’.

If the grooming of a family member to take over hasn’t been undertaken effectively, then it is highly recommended that specialist advice external to key stake holders be sought to ensure relationships and expectations are managed correctly.

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