Creating stronger foundations for the future
expect upcoming family members gain outside work experience
have succession plans, however most are informal
of next generation leaders take on non-senior roles in the business
sit on the board of directors
This year’s findings speak to the importance of being prepared to compete in a far more digital economy, a challenge for business leaders everywhere. CEOs globally are working to bridge gaps in their data capabilities. Yet family businesses are coming into this arena with an advantage. They have built valuable trust among loyal employees and their ownership group. So how to turn values like loyalty and hard work into a multi-generational success story? We see four moves ahead to consider to build a lasting and profitable legacy:
Thinking through the implications of a more digitally-integrated economy should not be decoupled from thinking through who should run the business in the future and who can best help guide it.
I hope these findings serves as a useful starting point for conversations you will have with the current and next generation of leaders as you set a course for continued success.
You’re invited to register with us to receive the full report. Let us know if you have any questions or would like to discuss.
US Family Business Leader