CONTINUITY
FAMILY BUSINESS CONSULTING
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Succession planning, operations management, and strategic planning, are among the most important factors of a family business.
A study done at Hong Kong University reported that if succession planning is not attended to in a family business, its impact can be devastating.
In order for a succession plan to be effective, it has to be well planned and implemented in a timely way. Succession planning should begin when there is plenty of time to get next generation leaders ready for their new roles. Unfortunately, many fail to plan and wait until a crisis arrives. Planning for next generation leadership should be a top priority for any family business whose leaders want their legacy to continue in future generations.
Continuity’s expertise in managing conflict when the continuing relationships are important is a crucial element of our succession planning work.
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