CHAPTER 1
Designing New Road Maps for the Journey
IN thinking about succession, family business owners and the professionals who advise them have generally had only one road map to follow: The literature in the field has been largely limited to transitions from one controlling owner to another controlling owner (CO to CO). This has virtually eliminated from view a large number of family businesses that either have a system of multiple leaders or would prefer to transfer the company in the next generation to a leadership group.
The deep-rooted bias in favor of CO-to-CO successions conforms to the hierarchical patterns of authority that the public has come to accept as the norm in business. Every business is supposed to have one, and only one, ...
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