Crises, like the unexpected passing of the current leader, a scandal, or a health crisis that sidelines leadership, can force succession. However, in most family businesses, succession isn’t forced. Family businesses know it’s on the horizon. Yet, they still aren’t prepared.
That’s because too often succession planning is focused on a single person—and not the entire leadership team.
In order for a smooth transition, family businesses need to succession plan across the entire organization. This article explains more.
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