Between a Rock and a Hard Place: A Succession Dilemma of Two Generations in a Family Business
Abstract
The case study, “Between a Rock and a Hard Place,” delves into the intricate challenges of succession planning faced by family businesses. It encapsulates the dilemma of a next-generation successor, Jay, torn between embracing the family business or forging his unique career path. Family businesses, characterized by interwoven management and generational continuity, must meticulously plan for leadership and ownership succession, a critical task. The case spotlights the repercussions of successors entering the business based on entitlement rather than competence and willingness. Globally, a substantial number of businesses are ...
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