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F
amily Business

There may be nothing in this world that can approach the complexity of the passing of a family business from one generation to another or among family members of the same generation. 

Every family business faces common problems that others have dealt with and successfully resolved.  This means that there is hope in every family to successfully resolve the issues faced.  All will not face the same problems.  Each family is unique in its mixture of individuals, circumstances and situations. 

To be successful, family businesses must first look at the dynamics of the family business system.  Then, they must shift their focus from building the business to sustaining it, or to capturing the value through a sale.  The chances of a successful transition are high when the organization has been prepared for future leadership, and when the next generation of effective managers, shareholders, and family members have been developed.

 

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