CHAPTER 14
Conclusion: Improving the Odds of Success
THIS book has examined the challenges that business families face as they approach a generational transition. Two assumptions underlie the ideas presented. First, that succession and continuity can indeed be planned for, and, second, that planning does in fact improve the odds of continuity. At the very beginning, we noted the opinion of experts on the high mortality rate of family businesses in the second and third generations.1 There are undoubtedly many reasons why countless companies are sold or close their doors after only one generation of family ownership. Many simply lack a qualified successor who wants to continue the business. Others are in rapidly consolidating industries and lose ...
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