To maintain the success of the family business needs a clear vision of the relationship between the family members and business. There is nothing better than a well functioning family business and family. Most family business owners want to pass on the business to the next generation but relatively few can actually do so.
Need to tackle the situation whether the next generation is prepared to take over these responsibilities. Because leadership is not transmitted or planned. The rising generation must know how the family struggled for the business and also founder must share the proud moments of business and family to empower the feeling of ownership, always make communication on how you have evolved the business. Through communication creat a framework of business decision making and family governance.
We have recognized and studied thoroughly about family business management and designed a course structure with references from expert mentors at Biz Iuris College.