Thought Leadership
For better, for worse ‒ How to keep the family business vibrant across generations
If family firms want to sustain their dynamic progress across multiple generations they need to have a professional approach to governance and management – a task that, in its multifaceted complexity, poses a major challenge in terms of leadership. It is all about balancing the interests of the company with those of the family and efficiently exploiting the special strengths of this kind of business. In what follows, the authors describe how the challenges of building a family firm over generations can be mastered.
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Balancing objectivity and emotion – How family businesses manage succession
Many family businesses will be facing the issue of succession over the next few years, but very few of them are prepared for the challenge. Yet, particularly for family businesses, the handover from one generation to the next is crucial to the company’s very survival. In this article, the authors describe how the generation shift can be managed with long-term planning, objectivity, and the use of professional processes.
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