How to Bring an Outside CEO into the Family Business

  • 📰 HarvardBiz
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

One of the challenges for a family-owned business is the transition to a non-family member as CEO — a transition most multigenerational businesses eventually face. Onboarding the new CEO is one piece of this challenge.

To help make the onboarding successful, use a five-step process, consisting of one-month stages: learn, listen, observe, own, and evaluate.Most multigenerational family businesses eventually arrive at the same decision point: the current generation realizes it needs to hire a non-family-member to run the business.

is Senior Lecturer in the Technology and Operations Management Unit at Harvard Business School and faculty co-chair of the HBS “Families in Business: From Generation to Generation” programis the Managing Director of a third generation real estate development business in India and the United States. Based in Pune, India, Rohit has been leading his family business for the past 8 years and is active with many other family-owned businesses in India.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 310. in BUSİNESS

Business Business Latest News, Business Business Headlines