The premier resource for family business executives featuring the latest family business news and research articles from the leading universities and business publications.
creating an awesome business culture just might help attract the younger gen to give it a ride
Part of keeping a family business innovative is to encourage change and try new things. One way to create this culture change faster is to encourage the younger generation to join the family business. The younger generation brings fresh thinking, new strategies and modern leadership styles.
“Succession planning doesn’t have to be complicated”
We all know we need one, but why is it so hard to prepare a succession plan? One of the most common reasons is the difficulty in just getting the process started.
Good news. You may have already started without even knowing it. Try using an existing company organization chart with some modifications as a starting point.
As our family businesses grow it becomes increasingly more difficult to retain the small business advantages that made us successful and different from non-family firms. As we grow we need to begin involving more non-family employees in the planning and strategy of the business. We no longer can keep these plans “close to the vest” (continue reading)