Cultural Shifts in Company Successions

Growing numbers of family-owned and closely held enterprises in Europe, North America, and other regions are undergoing leadership successions as company founders depart and new owners assume control. These transitions raise a variety of financial, operational, and strategic challenges that underscore the need for careful succession planning.

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The Challenge to the Business Family:
Growing and Changing with the Business

Research from the Family Firm Institute indicates that only 12% of family-owned businesses successfully transition from second to third generation ownership and leadership. Those that do make the leap are faced with increasingly complex business and family challenges.

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Succession Planning Without Family Successors:
Moving Toward a Professionally Managed Firm

The construction industry has a long history of firms being passed successfully from one generation to the next and even into the third generation. As construction firms become larger and with the multitude of opportunities that are available to the children of successful entrepreneurs more companies are faced with the possibility that no one in the next generation will have either the skills or interest to take over leadership when the current owner is ready to retire.

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Leaders and the four fatal fears

“The only thing we have to fear is fear itself.”

This famous quote from Franklin Roosevelt speaks as clearly to leaders today as it did in the 1940s. In their book, Play to Win, Larry and Hersch Wilson present psychologist Maxie Maultsby’s concept of the Four Fatal Fears. Maultsby believes these fears impede our ability to interact effectively with others and take relevant action. These fears can not only immobilize us, but also immobilize an entire organization when a leader is stuck in their grip. Let’s take a look at the impact of these Four Fatal Fears on a leader’s ability to create a dynamic organization that responds quickly and effectively to change, creates new and innovative solutions, and works toward a common vision.

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