Chapter 6: Managing Family Business Dynamic: Role Transition Requirements
6. Managing family business dynamics: role transition requirements The previous chapter illustrated the dynamics that can result from the need for belonging and separation (individuation) being played out in the context of the family business. As pointed out it is essential to have both these needs fulﬁlled in order for the family and the business to remain healthy. Too much focus on belonging might not only prevent the individual family member from forming a separate identity, it might also, as a result of restricted next generation role innovation, hamper the development of the business. On the other hand, too much focus on separation and individuation might deprive the individuals of the feeling of family unity and, hence, risks the existence of the business as a family business and might also deprive the business of the continuity provided by strong family values. Managing the paradox of identity seems, therefore, to be crucial not only from an individual and family perspective, but also from a business point of view. In turn, in the multi-generational family business this requires a well-managed role transition process. 128 HALL 9781845428303 PRINT.indd 128 12/06/2012 15:19 Managing family business dynamics 129 The present chapter is devoted to this essential requirement. Succession – inevitable and challenging As time goes by and people age, succession, or role transition, is something a business family inevitably has to face. The succession complexity rises if a son or daughter replaces a parent in a strategic business role, as their relationship is not...
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