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What is Family Business Succession Strategies about?

Succession in family firms is a complex process involving the organized transfer of leadership and governance to ensure continued ownership. Key factors influencing successful succession include the readiness of owners and managers, family dynamics, the economic environment, and the preparedness of potential successors. The succession process consists of three phases: pre-succession, planning, and managing, each requiring effective communication, trust, and active involvement from family members.

Author

klay nhyrth

Language

EN