Passing on the crown
How a family firm can avoid a succession crisis:
More family firms are facing up to their biggest problem: avoiding a crisis as the business passes from one generation to the next.
Most of the world's best-known companies at some point listed their shares on stockmarkets, thus opening their ownership beyond the ranks of the families that founded them. Yet even among so-called "public" companies, many remain controlled, or at least to some extent influenced, by the very same families. Indeed, the majority of businesses are family-controlled, from unsung millions of modest firms to commercial giants such as Wal-Mart, Ford, Samsung or Hyundai.
To read the full article from The Economist click here.