Family Leadership Strategies

Observations • The family leadership transition process is constant and there will always be a need for continued mentoring, problem solving, and advice that supports the new leaders and prepares the next generation. • The senior leader ‘owns’ the succession process and is the one who ultimately makes the tough choices during the transition. • Families must be flexible to correct mistakes and change roles and responsibilities even after the leadership transition. Tasks • Discuss each of these failure modes with the family, key managers and board members, assess how these risks will be managed in the context of the family transition plan.