CHAPTER 7
Developing Successors: The First Steps
TIME is the engine that drives succession in family companies. Gradually and inexorably, the aging process moves the individual family members and the business through various stages. If all goes well, the working out of a Shared Dream, the mentoring of the juniors, and the retirement planning of the elders will ultimately bring about a generational change and the establishment of a new leadership. The older that seniors and juniors get, the closer they come to the transition and the more energy they must devote to completing the various tasks associated with succession. Whether the process is smooth or jumpy, fraught with tension or relatively harmonious, will depend on the quality of family relationships. ...
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