Family businesses must discuss what they would rather not: How to institutionalize leadership
Family-owned firms generate over 75% of India’s GDP, among the highest anywhere, according to McKinsey & Company. Business families are preparing to transfer roughly $1.5 trillion in assets to the next generation. Yet, 36% have no succession plan and 52% cite resistance from the senior generation as the biggest barrier to a transition. The patriarch, in other words, is often the obstacle, not the market, economy or the next generation’s capability.
Post Comment