The family unit can be a major source of conflict for a family company. On the one hand, the successor for the top job is most likely to be a family member, while on the other hand family members’ interests and objectives can be divergent.
The challenge of international expansion comes with compelling growth opportunities for a company seeking to advance and expand, even with an awareness of the risks that such ventures carry.
Attracting high-quality hires and earning their loyalty are crucial issues for many companies. And the talent shortage, which will grow worse in the coming years, will make the challenges even tougher.
For family companies facing a generational transition, leadership takes on crucial importance because the transition coincides with a cultural break (a once-in-30-years leadership change). That’s where the true meaning of leadership comes into play: an attitude grounded in a set of personal qualities, whose focus is on the emotional side of company management.
The challenge of international expansion comes with compelling growth opportunities for a company seeking to advance and expand, even with an awareness of the risks that such ventures carry.
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