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Monday, 2 March 2015
Newsletter week 6 by Jad & Isabell
Dear all, below you find the newsletter for week 6!
What an insightful newsletter. I especially enjoyed the final article regarding strong family ties and business. It is true I think due to high emotions succession is the most ignored and least prepared area in regards to family business. What a shame since this seems to be the most important area in a family business. I really enjoyed the picture of the 5 step process for succession planning. I really do think succession is ignored with the intent to keep communication in harmony and results into disaster. Families with more than one child don’t realize that they should prepare and get children involved from an early age so they can tell who can most likely run the business. I think this concept can also relate to the first article, most first generation owners don’t realize their children and employees don’t think like them. They need to have clear and concise rules so they can show their peers their vision. Most often owners keep everything in their head. I think in the long run this ruins the company’s internal structure and can ruin the company’s ability to run at its maximum potential. Lovely newsletter I think it definitely covers the most important aspects in regards to strategic management and succession planning.
Hello,
ReplyDeleteWhat an insightful newsletter. I especially enjoyed the final article regarding strong family ties and business. It is true I think due to high emotions succession is the most ignored and least prepared area in regards to family business. What a shame since this seems to be the most important area in a family business. I really enjoyed the picture of the 5 step process for succession planning. I really do think succession is ignored with the intent to keep communication in harmony and results into disaster. Families with more than one child don’t realize that they should prepare and get children involved from an early age so they can tell who can most likely run the business. I think this concept can also relate to the first article, most first generation owners don’t realize their children and employees don’t think like them. They need to have clear and concise rules so they can show their peers their vision. Most often owners keep everything in their head. I think in the long run this ruins the company’s internal structure and can ruin the company’s ability to run at its maximum potential. Lovely newsletter I think it definitely covers the most important aspects in regards to strategic management and succession planning.