An Evaluation Of Family Business And Challenges Of Succession

INTRODUCTION  The succession system involves planning, selection and preparation of the next generation of managers, transition in management responsibility gradual decree in the role of previous managers and finally discontinuation of any input previous managers. In contrast to the above process, management succession can be by crisis. The crisis may be brought about by the death or disability of the found, or hiring of an outside manager in an attempt to finally fix things gone wrong in the process not motivated by crisis nor characterised by a single event not marked by a single date on the…