Public Member
EIX Editor Emeritus
FB Editor Emeritus
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Family firms can lose their entrepreneurial edge as ownership passes to new generations. Clear values and strong governance can help preserve it.
Intuitive founders may excel at launching ventures, while analytical thinkers may be better suited to managing systems, metrics and long-term growth.
Students discover how family firms can offer unique learning, career, business development and community opportunities along with significant challenges.
Successful transitions require founders to accept that new leaders may need to change how the company serves customers, manages employees and competes.
Research suggests collaborative conflict management can strengthen family relationships while also producing better solutions and stronger business performance.
Ritch Sorenson explains how outside executives can manage family relationships, strengthen the business and help prepare the next generation to lead.
Reducing conflict and strengthening business performance may be as important as succession planning when preparing for a leadership transition.
