Principles of Succession in Family Businesses
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Principles of Succession in Family Businesses

Managing Family Business

Principles of Succession in Family Businesses

Succession in family business is all about the survival of the business as an economic entity. Succession planning should involve the whole family, whose goal should be enabling the business to grow and prosper for the family’s benefit. The current leaders, who may have started the business, must learn to let go of control.

By David Bork|2017-07-10T13:48:22-06:00March 31st, 2011|Categories: Managing Family Business|Tags: Transfer|

When a Family Member Asks for a Job…
Gallery
When a Family Member Asks for a Job…

Managing Family Business

When a Family Member Asks for a Job…

If the business is to thrive, there should be conditions attached to the hiring of family members. Every owner of a family business faces the issue of whether to hire particular family members. It's important to set a fairly high bar before hiring family members, or the business will end up employing less than competent people.