MGT484

Textbook

Textbook:

Basco, R. (2024). Family business management. Routledge. DOI: 10.4324/9781003273240 

Read:

• Chapter 10 – Ownership, Governance, and Management Succession 
  • This chapter is important for learning and understanding succession planning and the different meanings for families, which depend on the generational stage of the family, the business, and the ownership. Complexities arise when family members have 100% ownership and the possibility of nonfamily business ownership of shares. The Ford Family is an example of non-family ownership since stocks were owned when the company went public.  
• Chapter 11 – The Incumbent Generation in Family Business Succession 
  • This chapter is important because it covers the different succession strategies. The chapter also discusses the different types of incumbent and senior generations. Additionally, different types of retirement styles are identified as succession planning is implemented. The three main dimensions that determine success or failure when succession planning takes place are the generational stage, the number of family members, and current corporate governance quality.  
• Chapter 12 – The Next Generation in Family Business Succession 
  • This is an interesting chapter that covers the different types of succession careers. The different types of succession for the next generation family members and the Disney effect for the next generation. Finally, the chapter discusses market pressures and reactions to the succession plan. 

Videos

Williams, S. (2023). The KEY to Business Success IS Succession Planning (how to do succession planning HR) [Video]. YouTube.  https://www.youtube.com/watch?v=rkZMK7M4wL0 

Movie:

The Inheritance (2003) - available on Netflix

TV Series:

Succession  (seasons 1 through 4) - Available on HBO and Apple TV