For many entrepreneurs, their business is more than just a source of income—it's an extension of themselves representing years of hard work, financial investment, and emotional commitment. A shocking ...

A properly drafted buy-sell agreement (buy-sell) is an important component of a successful family business succession plan. Its primary purpose is to provide for the stability and continuity of a ...

In many family businesses, the tension between the eagerness of the next generation’s leaders to take control, and the founding generation’s willingness to relinquish control, is the source of many ...

When Rupert Murdoch and his children finally reached a deal earlier this year to end the years-long succession battle over the media mogul's empire, the high-profile saga offered a valuable lesson for ...

Crafting a succession plan in a family-owned business ensures its survival and growth and also enhances cohesion and preserves the entrepreneurial spirit across generations. Nearly two-thirds of ...

Succession planning encompasses a broad spectrum of activities, from identifying potential successors to transferring control of day-to-day operations and aligning the transition with the strategic ...

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Explore four key strategies to sustain multigenerational family businesses, including succession planning, governance, philanthropy, and strategic transformation.

Just 13 percent of family business members in the next generation say the business would “continue to run smoothly and without interruption if an important family employee moved on, retired, or passed ...