Elements of a Succession Plan and Implementation Presentation

Sandra McNeely—The Abbey Group Is presenting at the  2013 ANNUAL  PRAIRIE FAMILY BUSINESS CONFERENCE  AUGUST 22-23, 2013  at Holiday Inn City Centre in Sioux Falls, South Dakota.

“ Elements of a Succession Plan and Implementation “

Transitioning the family business to the next generation is an important process for both the family and business.  Many issues  may arise during this time that can cause the family structure to  break down.

A key to preventing this collapse is a smooth changeover between leaders in the form of a succession plan.  A succession plan can also prevent future misunderstandings  of  leadership roles;  therefore, it is important to communicate the succession plan among key staff within the family business.

Sharing the plan will prevent confusion within the business or family,  should a crisis arise.  Confirming understanding of roles can  also help prevent any rifts from forming between family members.

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