Executive Suite: Succession Plans in a Family Business
Build a successful succession plan for a family owned business, by putting business first and family second.
5. Finally and above all, there should be regular management meetings, during which all family managers act as responsible trustees of the business. If necessary, have an outsider chair the meeting. Whatever you do, make it an exercise in what’s-best-for-the-company thinking. There is no substitute for consistent practice to move people away from self-interest and family strife toward sound business decisions that contribute to the health of the family—and the company.
Dr. David Claerbaut has spent more than 25 years consulting in the graphic arts industry. You can reach him directly at 702-354-7000 or email him at drdavid@fcbb.com. Learn more at www.MyPRINTResource.com/10746916.
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