Succession Planning In Family-Owned Businesses
We have experience and expertise in successfully managing Succession Planning In Family-Owned Businesses
Area of Expertise
- Research by Cornell Economist, Robert Avery suggests that 70% of family-owned businesses (FOB) fail before reaching the 2nd generation, 88% fail before reaching the 3rd generation and only 3% of FOB operate at the 4th generation and beyond.
- Given the huge risks involved, succession planning in family-owned businesses cannot be left to CHANCE, and well-thought-out, research-based CHOICES have to be timely made for the high profitability and sustainability of the business.
- Our rich hands-on experience and publication suggest that six factors contribute to effective succession planning in family-owned businesses.
- The video & the model below shares the approach we carry out for developing succession planning in family-owned businesses
Is it CHANCE or CHOICE
- This video shares the well-researched and impactful approach followed by Hyperspace Action Research Services for Succession Planning in Family-Owned Businesses.
- This right mix of Knowledge and Experience (Gyan and Karma Yoga) results in positive outcomes.
- Investments on developing effective succession planning are very meagre as compared to the benefits derived from business sustainability.
- Link to the research publications for carrying out impactful succession planning and leadership development are:
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