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Father and Daughter Showdown 《Business Succession》

#MBA #Japan #Business #Succession #Family

Switzerland IMD Family and Business Research Institute reports that the following 4 perspectives are important in business succession.
To briefly explain each keyword,
Entrepreneurship - keep up an entrepreneurial spirit in every generation
Leadership - practice leadership styles according to the times
Stewardship - consider that the company is a borrowing from the next generation
Value - thoroughly share the existence value of a company.

1)Entrepreneurship
2)Leadership
3)Stewardship
4)Value

It is often described that business succession in a certain company has become a power game with changing times and it is not possible to reconcile the values to be retained and values to be changed (immutable). However, it must be understood that this is probably due to the extreme differences in thinking and practice styles between generations for all of the above points from 1 to 4.

Companies with the strong dominant factors of a family business (mainly the owner's family) have the advantage of long-term stable administration, regardless of whether it is operated within Japan or overseas, listed or non-listed. The secret is to change according to every generation by adding small elements, little by little. This applies to all business managers, not being somebody else's problem. Tomorrow is ours.