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Analysis and Discussion Review of Succession in Family Businesses

ost crucial to the success of the intergenerational succession process were identified and defined. The five factors were as follows:

> Identification with the family business and confirmation of one's role

> Commitment to the family business and to the family

> Effective intergenerational communication

> Formalization of the intergenerational succession process

> Managing family factions and setting boundaries of responsibility

Identification with the Family Business and Confirmation of One's Role

There was strong agreement among the three articles that were reviewed in relation to the importance to the intergenerational succession processes in family businesses of two conditions. The first condition is a strong identification on the part of family members with the family business. Such identification is crucial in relation to family members who are considered for leadership succession, as wel

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Analysis and Discussion Review of Succession in Family Businesses. (1969, December 31). In LotsofEssays.com. Retrieved 01:07, May 19, 2024, from https://www.lotsofessays.com/viewpaper/2001045.html