What Are the Three Critical Steps in Developing a Succession

question 72

Essay

What are the three critical steps in developing a succession strategy in a family business?

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Definitions:

Awareness of Ourselves

The recognition and understanding of one's own characteristics, feelings, motives, and desires.

Perceptual Process

A series of steps by which individuals select, organize, and interpret sensory information to understand the environment and make decisions.

Johari Window

A psychological tool used to help people better understand their relationship with themselves and others, through identifying known and unknown facets of their personality.

Blind Area

Aspects of an individual's behaviors or personality that are unknown to themselves but visible to others, often highlighted in feedback mechanisms.