by Bernard L. Erven, Professor and Extension Specialist
Department of Agricultural Economics, Ohio State University
Each family with a business faces the reality that the business will eventually end or have new managers.This reality is independent of the founding and previous managers’ successes in building the business and their current success and stature in the community.This paper focuses on key issues involved in facing this reality of management succession.In particular, the focus is set in the context of assistance to family business managers by extension specialists in the human ecology and agricultural sciences.
The human ecology and agricultural sciences have a rich history in teaching, research and extension designed to assist family businesses.Family has often been separated from business in this work.Serious attention to assisting family businesses with their succession planning and implementation requires that the family and business be fully integrated in analysis and programming.The “building bridges” theme of this conference is consistent with the practical problems of most concern in management succession in family businesses. More…