Tag Archives: succession

Family Businesses have a Competitive Advantage!

“The authors argue that the same attributes that have long been vilified as weaknesses of family businesses – stable strategies, clan cultures, lifetime tenures – have actually created formidable competitive advantages for many of these firms…..these family owned businesses not only dominate their markets for twenty years to hundred plus years but did so by...
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Letting Go – Grooming Successors

It goes without saying that the long-term success of any business is contingent on having competent management. Family business owners also recognize this key element of long-term survival. Many of them pay particular attention to ensuring that the next generation family managers, leaders and owners have the skill sets required to run the family business....
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Who Says the Family Business Won’t Make it to the Next Generation?

Family Business Succession: Managing the All Important Family Component

So what is going wrong with family businesses and the succession process? They say that 70% will not make it to the 2nd generation and an alarming 90% won’t make it to the 3rd.  Surely, the owners of family businesses cannot be held...
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