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Article: Family Matters: Forever the Family Business?(Brief Article)
- Article from:
- San Diego Business Journal
- Article date:
- September 24, 2001
- Author:
CopyrightCOPYRIGHT 2001 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Although the emphasis of many family business publications is on perpetuating the family firm by handing down the business and its heritage to successive generations, some families might find this process impossible to implement for a myriad of reasons.
The ideal business succession case is one in which an heir apparent obtains an appropriate education and gains expansive work experience outside the family enterprise. Later, with accomplishments of his or her own, he or she comes into the family business in a timely manner, taking over the reins of leadership from an older family member and not missing a beat. Flash-forward several years and we see that the ...