Little Things Can Mean A Lot (Improving Operational Effectiveness)

Doud Hausner and Associates

We often speak of our “Five Transitions” view of succession planning for family businesses. These transitions involve:the Business, the Founder (or current leader), Management, Ownership, and your Estate Plan. Experience proves that effective planning and implementation of these five transitions are the keys to finding the “success” in succession planning.

The business transition has two basic components–operational effectiveness and strategic positioning. We are going to begin at the beginning and take a closer look at operational effectiveness. Whether or not it is your family’s vision to perpetuate family ownership into the next generation, your interests are best served if you take every opportunity to optimize operations effectiveness and profitability. Not sure where to start? Here are some simple keys to getting it done. More…

A Life Course Approach to the Entrepreneurial Family (Part II)

A Life Course Approach Cornell University
to the Entrepreneurial Family (Part II)

by Phyllis Moen

A Research Agenda

Taking into account timing, process, and context, the study of family business from a life course perspective becomes an investigation of pathways, of the connections between different phases of life, and how circumstances in early adulthood may affect choices and resources later on. Retirement is a case in point, with labor force experiences throughout adulthood affecting both the timing of retirement, post-retirement economic resources, and the likelihood of launching a new family business at this life stage.

Key research issues from a life course perspective include: More…