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 Avoidable Destruction of a Family Business

The Avoidable Destruction of a Family Business

Longevity in the family business is a continuing challenge. Statistically, by the end of the third generation, 90 per cent of family businesses have failed. The statistics also reveal a glaring incongruency in resource...
Overcoming Sibling Rivalry in the Family Business

Overcoming Sibling Rivalry in the Family Business

Edwin Hoover helps family businesses manage family conflict using the tools and strategies first outlined in Getting Along in Family Business: The Relationship Intelligence Handbook, a book he co-authored with his wife in 1999....
Love, Money, Power and Sibling Rivalry

Love, Money, Power and Sibling Rivalry

A leading expert in the field of family business dynamics, Clinical Therapist, Advisor and the Author of two books, Love, Power and Money: Family Business Between Generations and Family Business Matters, Dean R Fowler...
The Painful Realities of Sibling Rivalry and How to Deal With Them

The Painful Realities of Sibling Rivalry and How to Deal With Them

Angela Civitella had to take on a position of leadership in a family business when she least expected it. Following the premature death of her father, Civitella found herself struggling to co-manage the family's...
How Entitlement Fuels Sibling Rivalry

How Entitlement Fuels Sibling Rivalry

Professor Enrique M. Soriano, author of "Sibling Rivalry in Family Business", is a World Bank/IFC Governance Consultant, Educator, Columnist and Family Business Coach who helps family members come to an agreement even when their...