Understanding the Family Business Leadership Challenges
Generational transitions are the most critical periods for any multigenerational family business. The functioning equilibrium of the stakeholders’ four needs — family, ownership, management and the individual — is upset and a new equilibrium needs to be found in order to provide stability and transparency for the overall system. There are, however, inherent weaknesses in the system which tend to add complications in reaching a new and functioning equilibrium as quickly as possible. Quite the opposite, these weaknesses, as I outline below, tend to favour the creation of conflicts, most typically between two generations.
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