Family Business: Effective Succession Planning (PowerPoint PPTX)

DESCRIPTION

This product (Family Business: Effective Succession Planning) is a 21-slide PPT PowerPoint presentation (PPTX), which you can download immediately upon purchase.

The Family Business sector continues to be vibrant, successful, and ambitious despite tough economic conditions and accelerating pace of change. Family businesses are vital to all economies, offering stability, a commitment for the long term, and responsibility to their communities and employees. In fact, family businesses can be an engine for change and innovation.

However, despite the extraordinary longevity of individual family firms, the average life span across the sector is 3 generations. Only very few get past 4 generations. Not surviving the transition to the next generation may be a sign of a Family Business not achieving their long-term ambitions.

When succession occurs within a company's hierarchy, they are 3 key considerations for the family business:

1. Issues relating to retention of the intended successor.
2. The possibility of jealousy by other employees.
3. How employees will respond to the succession plan.

Achieving successful business continuity is having the right Family Business Succession Plan in place and ready to launch at any point in time. This Family Business Succession Planning presentation provides a good understanding of Family Succession Planning. It also breaks down the 10 Steps to Effective Succession Planning, as delineated below (under 2 categories, Leadership and Ownership):

Effective Succession into Leadership

1. Get experience outside the family firm.
2. Develop a strategic plan for the medium term.
3. Broaden the decision-making process.
4. Strengthen the role of the Board.
5. Clarify what the retiring generation will do.

Effective Succession into Ownership

1. Start early.
2. Communicate, communicate, communicate.
3. Do your homework.
4. Invest in education.
5. Diversify your wealth.

Having an Effective Succession Plan in place is one way of creating the conditions for the next generation to be successful. Adhering to these 10 steps leads family business to achieve a smooth, successful, and effective transition between generations. These 10 steps are discussed in this presentation.

The Succession Planning in Family Business PPT also includes some slide templates that depict the 10 Steps to Effective Succession Planning framework. In fact, you can re-purpose the majority of these Succession Planning slides in your own business presentations.

This presentation redefines effective succession planning for family businesses in the 21st century. It includes detailed templates that can be repurposed for your own business presentations.

Got a question about the product? Email us at flevypro@flevy.com. If you cannot view the preview above this document description, go here to view the large preview instead.

Source: Best Practices in Family Business, Succession Planning PowerPoint Slides: Family Business: Effective Succession Planning PowerPoint (PPTX) Presentation, LearnPPT Consulting