Asked by Nelli Vartanian on Apr 27, 2024
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The clear majority of family business with succession plans will survive well beyond the second generation.
Succession Plans
Strategic planning processes that identify and develop new leaders who can replace old leaders when they leave, retire, or pass away.
Family Business
A commercial organization in which decision-making is influenced by multiple generations of a family related by blood, marriage, or adoption, who are closely involved with its operations.
Second Generation
Typically refers to the offspring of immigrants in a new country, or the next version or iteration of a product or technology.
- Comprehend the issues of succession and tactics in familial enterprises.
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Learning Objectives
- Comprehend the issues of succession and tactics in familial enterprises.
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