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What Could a Founder Do to Make a Succession Plan

question 14

Essay

What could a founder do to make a succession plan successful? Using the Three-Circle Model of Family Businesses, identify issues the founder should discuss with each group.


Definitions:

Isolation

The experience of being separated from others, which can be physical, social, or emotional in nature.

Lonely

Experiencing a feeling of sadness or isolation due to a lack of companionship or separation from others.

Middle Adulthood

A life stage typically occurring from ages 40 to 65, characterized by stability, career consolidation, and heightened concern for the next generation.

Stagnation

A period of little or no growth, development, or progress.

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