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2018 | OriginalPaper | Chapter

6. Is Your Business Ready for Your Transition?

Author : Stephanie Brun de Pontet

Published in: Transitioning from the Top

Publisher: Palgrave Macmillan US

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Abstract

Like the family system, the enterprise’s readiness for leadership transition affects personal continuity. Components of business readiness include an aligned, committed ownership group; stable market position and financial strength; and sustainable leadership, structures, and processes, including as related to corporate governance and strategic planning. A critical component of enterprise readiness is the presence of a capable, trusted successor to the outgoing leader: one with objectively proven abilities, the trust of key stakeholders, and demonstrated commitment to the family and business. Careful assessment of all these areas is critical to gauging and addressing enterprise system readiness.

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previous chapter Is Your Family Ready for Your Transition?

next chapter Where Are You From and Why Does That Matter?

For more on Porter’s 5 Forces Model see Michael Porter, Competitive Strategy: Techniques for Analyzing Industries and Competitors, Free Press, New York, 1998.

For more on the growing sense of financial insecurity in the USA (including the article author’s very personal take on the situation), see Neal Gabler, “The Secret Shame of Middle Class Americans,” The Atlantic, May 2016, http://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/ (accessed February 7, 2017).

For more on imposter syndrome see Carl Richards, “Learning to Deal with the Imposter Syndrome,” New York Times, October 26, 2015, https://www.nytimes.com/2015/10/26/your-money/learning-to-deal-with-the-impostor-syndrome.html (accessed February 8, 2017).

Developing Next Generation Leaders in a Family Business by Stephen Miller, article published by the Family Business Consulting Group. http://www.thefbcg.com/assets/1/22/FBA_Developing_Next_Generation_Leaders_SPM.pdf

Ivan Lansberg, “The Tests of a Prince,” Harvard Business Review, September 2007, https://hbr.org/2007/09/the-tests-of-a-prince (accessed February 8, 2017).

For an overview and academic references related to emotional intelligence, see John D. Mayer, “What Emotional Intelligence Is and Is Not,” Psychology Today, September 21, 2009, https://www.psychologytoday.com/blog/the-personality-analyst/200909/what-emotional-intelligence-is-and-is-not (accessed February 8, 2017).

Stephanie Brun de Pontet. Using theories of control and self-regulation to examine the leadership transition between a parent and child in family-owned businesses. Unpublished doctoral dissertation, Concordia University, 2008.

For a story-based approach to the concept of servant leadership, see James Hunter, The Servant, Crown Business, New York, 2008.

Title: Is Your Business Ready for Your Transition?
Author: Stephanie Brun de Pontet
Publisher: Palgrave Macmillan US
Book: Transitioning from the Top
Print ISBN: 978-1-137-57803-7

Electronic ISBN: 978-1-137-57804-4

Copyright Year: 2018
DOI: https://doi.org/10.1057/978-1-137-57804-4_6