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succession

September 1, 2004

There’s no shortage of findings that suggest family businesses have their work cut out in terms of succession planning.

There's no shortage of findings that suggest family businesses have their work cut out in terms of succession planning. In the US, 40% of family owned businesses are expecting a leadership change in the next four years. Billions of dollars will change hands. In Europe, it's a similar tale. But the plot has a new twist: fewer companies are being passed down the generations. As more owners exit, succession planning has lost its urgency. But private investors can be forgiven for feeling a little wobbly.

July 1, 2004

Finland may be a small country overshadowed by its dominant neighbour Russia, but has a tenacious family business sector powering a stable economy. Krista Elo-Pärsinnen reports

Finland may be a small country overshadowed by its dominant neighbour Russia, but has a tenacious family business sector powering a stable economy.

Finland's family businesses embody 'accountable ownership' with a face – they are arguably the backbone of the economy as well as the engine powering it. Their broad goal is not unlike family business owners the world over: to pass down an enterprise in a better condition than when they themselves took over.

May 1, 2004

Succession is widely believed to be the central management issue in family business. The very idea of succession rests on the notion that a set of generic concepts underlies the planning process.

Gerald Watts is professor in entrepreneurship at University of Gloucestershire.  John Tucker is head of UK Family Business Services at Grant Thornton.

May 1, 2004

Antonio García (18) worked for Mr Garza in a laboratory preparing food supplements. Antonio was a committed, hardworking and loyal employee. Mr Garza (72) wanted to retire and have some time to enjoy life.

Antonio García (18) worked for Mr Garza in a laboratory preparing food supplements. Antonio was a committed, hardworking and loyal employee. Mr Garza (72) wanted to retire and have some time to enjoy life. He had no children and decided to sell the lab equipment to his faithful employee, Antonio (24). He also gave him the formulas of two of the products as a wedding present when Antonio married Dolores (20) that same year.

March 1, 2004

Though you wouldn’t guess it today, Rug Bug was just a small-town carpet cleaning company when Constance Brown (58) and her husband Bob (62) bought it from Bob’s father in the early 1970s. From that meager start, Rug Bug has become the largest cleaning and carpet restoration business in the region.

Though you wouldn't guess it today, Rug Bug was just a small-town carpet cleaning company when Constance Brown (58) and her husband Bob (62) bought it from Bob's father in the early 1970s. From that meager start, Rug Bug has become the largest cleaning and carpet restoration business in the region.

March 1, 2004

Transitioning the family business from one generation to the next is fraught with hardship, headaches and high drama. So says the mainstream press but it’s just not so

Andrew Keyt is Executive Director of the Family Business Center at Loyola University Chicago and President of the US Chapter of the FBN.

Transitioning the family business from one generation to the next is fraught with hardship, headaches and high drama. So says the mainstream press but it's just not so

March 1, 2004

By using the ‘four phases of succession’ a family business owner can pinpoint precisely where the business is and then smoothen the transition to the next generation. But the key is to take painstaking care during the early phases

Dennis T Jaffe is Professor at Saybrook Graduate School in San Francisco, author of Working With The Ones You Love and a founding member of the Aspen Family Business Group.

By using the 'four phases of succession' a family business owner can pinpoint precisely where the business is and then smoothen the transition to the next generation. But the key is to take painstaking care during the early phases

January 1, 2004

When their 45-year old father, Frank, founded his tool and die business he had hoped only for enough business to be able to provide for himself, his wife and their two boys, Roger and Alex.

When their 45-year old father, Frank, founded his tool and die business he had hoped only for enough business to be able to provide for himself, his wife and their two boys, Roger and Alex. Roger, the eldest, began working with his dad first and his high energy and natural sales skills helped grow the business beyond its humble entrepreneurial roots. As the spitting image of his father, Roger believed that he was the only choice to succeed his father, the founder, as the rightful leader of the company.

September 1, 2003

In December 2002 the Daniels family were enjoying a rare Sunday dinner together.

In December 2002 the Daniels family were enjoying a rare Sunday dinner together. Jane (25) was home for the holidays from Stanford University where she was completing a PhD in history. As usual, the conversation turned towards Ridgeway Harley-Davidson, the business that was started by Joe Daniels (52) and his wife Anne (48). The business had done well over the years and Mark, their son (23) had joined the business full-time in 1998. But once again, as Joe watched his wife and son talk, he started to feel 'out of the loop'.

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