LEGACY 

What is family business succession?

Managing succession is one of the greatest challenges businesses face. By realising that it is a topic where the subjective perception trumps objectivity, and by accepting that there is no one right answer, family businesses can approach the issue with more structure, before it becomes a matter of urgency.

 ADDITIONAL READING 

Succession Articles

The Barrow Group: Five Generations of Construction in South Africa

The Barrow Group: Five Generations of Construction in South Africa

Over the course of its 121-year history, the Barrow Property Group grew from a small carpentry shop into one of South Africa’s leading property management and construction companies. Now in its fifth generation, the...
KNOWLEDGE: Longevity in the Family Business Context

KNOWLEDGE: Longevity in the Family Business Context

Judy Green, PhD, is president of the Family Firm Institute, an international professional association of individuals and organisations that advise and study multi-generational family enterprises. She is a frequent commentator on topics in the...
When Succession Goes Awry – Four Famous Examples of Failure

When Succession Goes Awry – Four Famous Examples of Failure

Whether it’s due to a lack of planning, an unwillingness of the founding generation to hand over power and decision-making, or a next generation that feels entitled to more, failed succession planning in family...
Syntel: Sustaining Success in the 21st Century

Syntel: Meeting The Challenges of Sustaining Success in the 21st Century

As return on investment goes, this one was pretty good. After starting the fledgeling company Syntel in their Troy, Michigan apartment with an initial investment of only $2,000 in 1980, Bharat Desai and his...

JAB Holdings: The Secrets To Multi-Generational Success

Image Source: Shutterstock.com While every family-owned business is unique, the challenges they face are often strikingly similar. How do you keep family conflict from affecting the business? How do you ensure the next generation of leaders have...