Succession in family businesses

Dispute Resolution - 1 minute read

So many people see taking over the family business as a right rather than a privilege. Starting at the bottom and working up helps to build both knowledge of the business and respect among colleagues.

Succession, which is difficult in all organisations, is especially so in family ones. It could be argued that the emotional stakes are higher in family businesses. The tasks of divvying up control of the company or appointing senior roles could become entangled between the notions of competence and favouritism.