Introduction
The determination of this analysis is to evaluate a current issue concerning change and change leadership. This article will focus on the specifics of a family-owned business and the effects of essentially passing on the business down from generations. The types of change that take place with a family business can impact the successfulness of the company. There are several different elements that go about implementing changes within a family business, and this article will consider these rudiments.
Family-owned businesses
There is a saying which has several different references, keep it in the family. In business, this does not always mean success for the company. There are several instances where a company is handed down …show more content…
There are challenges that occur within all organizations who go through changes, however when dealing with family businesses, these challenges seem to escalate and influence the relationships of the family members. To give an example, an assiduous father who is passing his business down to his son, the son may not have the meticulousness the father typifies, thus the company will eventually suffer once the father moves on. This succession of change will have an impact on the organization and everyone involved. To be clear, for succession of a family owned business to be successful, there needs to be appropriate organizational change process steps to ensure the implementation of change is completed accordingly. Based on the process and steps taken, the chance of success during the change process will increase only if accountability is undertaken by the leaders of the company. Therefore, the proactive behaviors of the leadership team are imperative to withstand the challenges of developmental, transitional and/or transformational change (Marler, L. E., Botero, I. C., & De Massis, A., 2017, pp. …show more content…
During a role transition, a leader teaches a successor on hand with the duties of the organization, preparing them for what the future holds for the company, and advising what change may need to be made. For a role transition to be efficacious, the leader needs to be able to let go of the company and be willing to prepare the successor, and be able to move on with the new chapter of their lives. Sporadically, leaders move on but still act as an overseer or advisor of an organization. This goes in line with succession readiness.
It is the obligation of a leader to pass on the torch so to speak to the successor, and provide them with succession readiness within an organization. Succession readiness is noted as having the wherewithal to step back as leader of the organization and allow the successor to step into the limelight as a leader. This takes self-effacement, and unpretentiousness, in really emphasizing the importance of the company. With the best interests of the organization and people of the company in place, a leader can be succession
The determination of this analysis is to evaluate a current issue concerning change and change leadership. This article will focus on the specifics of a family-owned business and the effects of essentially passing on the business down from generations. The types of change that take place with a family business can impact the successfulness of the company. There are several different elements that go about implementing changes within a family business, and this article will consider these rudiments.
Family-owned businesses
There is a saying which has several different references, keep it in the family. In business, this does not always mean success for the company. There are several instances where a company is handed down …show more content…
There are challenges that occur within all organizations who go through changes, however when dealing with family businesses, these challenges seem to escalate and influence the relationships of the family members. To give an example, an assiduous father who is passing his business down to his son, the son may not have the meticulousness the father typifies, thus the company will eventually suffer once the father moves on. This succession of change will have an impact on the organization and everyone involved. To be clear, for succession of a family owned business to be successful, there needs to be appropriate organizational change process steps to ensure the implementation of change is completed accordingly. Based on the process and steps taken, the chance of success during the change process will increase only if accountability is undertaken by the leaders of the company. Therefore, the proactive behaviors of the leadership team are imperative to withstand the challenges of developmental, transitional and/or transformational change (Marler, L. E., Botero, I. C., & De Massis, A., 2017, pp. …show more content…
During a role transition, a leader teaches a successor on hand with the duties of the organization, preparing them for what the future holds for the company, and advising what change may need to be made. For a role transition to be efficacious, the leader needs to be able to let go of the company and be willing to prepare the successor, and be able to move on with the new chapter of their lives. Sporadically, leaders move on but still act as an overseer or advisor of an organization. This goes in line with succession readiness.
It is the obligation of a leader to pass on the torch so to speak to the successor, and provide them with succession readiness within an organization. Succession readiness is noted as having the wherewithal to step back as leader of the organization and allow the successor to step into the limelight as a leader. This takes self-effacement, and unpretentiousness, in really emphasizing the importance of the company. With the best interests of the organization and people of the company in place, a leader can be succession