SUCCEEDING GENERATIONS

'Succeeding Generations' explores leadership transitions in family businesses, offering a clear-eyed assessment of the different options, from direct succession to building partnerships between siblings and cousins. Family-owned companies may dominate the worldwide business landscape, yet surprisingly few are successfully passed down from one generation to the next, and fewer still reach the third generation intact. Author Ivan Lansberg, an organizational psychologist who grew up in a family business, examines the reasons behind this high failure rate and reveals the factors that contribute to long-term success. 'Succeeding Generations' offers a framework for understanding the succession process, as Lansberg highlights the need for families to share a "dream" much like a business has a vision. He also offers practical advice on how to mentor successors, how to set up a selection process, and how to make the best use of the board of directors during times of transition.