Decision-making & responsibility structures
A successful succession solution combines professional management within the company with appreciation and fairness among shareholders and their families—often across generations.
A successful succession solution combines professional management within the company with appreciation and fairness among shareholders and their families—often across generations.
Bearing responsibility for a business, family, and assets requires clarity in goal setting and methods to systematically resolve conflicting objectives.
Shareholders and business families bring different experiences to the succession process. Founders often make different decisions than entrepreneurs in the third or fourth generation. The size of the company, as well as the size of the shareholder family or families, are among the central factors in shaping business succession.
The succession process is time-consuming. Beyond the obvious and explicit questions, numerous other issues must be discussed, addressed, and resolved. In a business, decisions usually follow a clear, competence-based logic. However, this logic cannot be applied to the business family, as families follow different rules. We categorize different perspectives and make the underlying areas of tension transparent.
Transparency and awareness create the foundation for sound decisions, as they foster an understanding of diverse interests and the necessary compromises. The step-by-step development of structures that facilitate decision-making is a key success factor in a smooth succession.
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