Introducing the Next Generation Family Champion

Introducing the Next Generation Family Champion

Timo Recker is a 29-year-old third generation family member of a successful German meat production company. While the business is successful and growing, he knows that meat production is costly to the food chain, and, more people can be fed if they eat fewer meat products. He wanted to do something that leveraged the skills within his family, which also help create a sustainable future.

Succession Begins on the First Day of Work

Succession Begins on the First Day of Work

By using the ‘four phases of succession’ a family business owner can pinpoint precisely where the business is and then smoothen the transition to the next generation. But the key is to take painstaking care during the early phases.

Family Business as a Model for Sustainability and Social Responsibility

Family Business as a Model for Sustainability and Social Responsibility

Our study has interviewed family owners of nearly 50 large family enterprises, many of them lasting more than a century so far, who have passed their values and legacy across several generations. They have seen a shift in the past two generations from paternalistic leaders, who ran the business for the family members, to greater engagement and participation by increasing numbers of family owners who are creating an active community of family owners who use the family wealth and enterprise to express shared values and fulfill obligations to current and future generations and communities. They have moved from paternalistic management to a more democratic, engaged and participatory form.
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