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

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...
CIR Group

[Podcast] Leadership through Resilience

Rodolfo De Benedetti was a mere 30 years old when he became the CEO of Compagnie Industriali Riunite (CIR) Group, a business established by his father, Italian business tycoon, Carlo De Benedetti who founded...

The Fall of Toys R Us: How the ‘Category Killer’ Met Its Demise

A child’s question. A father’s answer. Together they would plant the seed for one of the most influential commercial enterprises of the 20th Century.When Charles Lazarus was a child working in his father’s Washington...

Philips: A Legacy of Innovation and Sustainability

When the Philips Corporation launched their sustainability vision in 2012, it was seen by many as a brand new venture into furthering 21st-century technology. There can be no question, the Dutch-based company was viewing...