Family-owned businesses come in all shapes and sizes and cover a spectrum of industries. They share all the same concerns as non-family businesses: profitability, responses to competition, adoption and adaptation to new...more
Part III of our series on Shakespeare and Family-Owned Businesses takes us back to a familiar theme: managing succession in ownership and leadership in family-owned businesses. ...more
For fans of Shakespeare, our blog is taking a literary bent again. Our first Shakespeare post related the lessons from King Lear. Now we turn to Hamlet. We all know that one of the biggest struggles of a family business is...more
One of the biggest struggles of a family business is surviving succession. According to Lloyd Steier, Professor in the Department of Strategic Management and Organization at the University of Alberta School of Business and...more
You’ve gone through the motions of succession planning—groomed your successor, established and executed all the attorney-advised documents—and now you’re prepared to hand off your business, right? Not necessarily....more
There are a multitude of ways to realize ownership transition–some simple, some complex, some a safe bet and some full of risks. For the ambitious, successful family-owned company that wants to make it to the big leagues, an...more
Recently we published a post in our blog about succession and the steps necessary to see it through. Having an open, honest, and transparent discourse with family members is one such step. Yet, this is often more easily said...more
Big family business conglomerates can get into big trouble when impacted by negative global market forces. That’s the story of Hanjin Shipping Co., a family-owned Korean shipping company (and part of a large Korean chaebol,...more