Succession planning myths and tips

For many retiring family business leaders, the difference between watching their company flourish and seeing it falter comes down to a well developed and carefully executed succession plan. Regardless of where you live, effective succession planning is essential. Challenges that are common to business families worldwide include making planning a priority, communicating with family members and key employees, strategically timing transitions and instituting family and business governance that will help smooth the succession process.

A global issue

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