CHAPTER 2
A Typology of Successions
IN chapter 1, I argued that long-standing biases in the family business field have blocked understanding of the complexities of succession that these companies face now and in the future. I also suggested that the stubborn adherence to an idealized monocratic succession needlessly curtails the range of options that are considered feasible in any family business. In this chapter I will present a typology of succession in family companies that captures the full range of potential transitions that can and do occur. The first step in bringing order to this multifaceted subject is to understand the fundamental forms of family business. The second is to develop a framework for organizing the possible types of successions ...
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