Central to their success and longevity is the process of generational transition, wherein leadership and ownership are passed down from one generation to the next. However, navigating these transitions presents a myriad of challenges that require careful planning, communication, and strategic foresight.
Successfully transitioning to the next generation is achievable, as demonstrated by the Lee Family, a notable example of effective succession within the business realm. Upon Lee Kun-hee’s incapacitation in 2014, his son, Lee Jae-yong , assumed greater responsibilities within the company. Despite challenges, including legal disputes and corporate scandals, the Lee family has demonstrated resilience and adaptability in navigating generational transitions while maintaining Samsung’s position as a global industry leader.
The Federal Government has unveiled plans to increase the number of blocks to be auctioned in the 2024 oil licensing round, assuring transparency in the bidding process.More than three months after the Nigerian Maritime Administration and Safety Agency announced preparations to deploy its N50 billion floating dock, the maritime asset remains stationary at the jetty at Standard Flour Mills, Apapa.
Ekiti State Governor, Biodun Oyebanji, has appealed to residents of the state to embrace tree planting around residential buildings to reduce the rate of destruction by rainstorm.