Question
Which TWO of the following strategies can help ensure a smoother transition in a family business succession plan?
Keeping succession discussions secret to avoid conflict
Developing a new project that interests the successor
Involving key non-family employees early in the succession process
Allowing the next generation to take over immediately after graduation
Keeping succession discussions secret to avoid conflict
Developing a new project that interests the successor
Involving key non-family employees early in the succession process
Allowing the next generation to take over immediately after graduation
Answers
GPT-4o mini
The TWO strategies that can help ensure a smoother transition in a family business succession plan are:
1. **Developing a new project that interests the successor** - Engaging the successor in a project that they are passionate about can help them feel more invested in the business and better prepared to take on leadership roles.
2. **Involving key non-family employees early in the succession process** - Including key non-family employees can provide valuable insights and foster a sense of continuity and trust among the staff, which can ease the transition for everyone involved.
The other options, such as keeping succession discussions secret or allowing the next generation to take over immediately after graduation, are likely to create more challenges and conflicts.
1. **Developing a new project that interests the successor** - Engaging the successor in a project that they are passionate about can help them feel more invested in the business and better prepared to take on leadership roles.
2. **Involving key non-family employees early in the succession process** - Including key non-family employees can provide valuable insights and foster a sense of continuity and trust among the staff, which can ease the transition for everyone involved.
The other options, such as keeping succession discussions secret or allowing the next generation to take over immediately after graduation, are likely to create more challenges and conflicts.