Company Overview: First generation, multi-unit and multi-brand business across several state lines
Challenge: 50/50 first generation business owners. One partner actively involved in the day to day operations, while the other has become less active, yet very much involved in overall business decisions.
Second generation family members and a few “friends of the family” are becoming interested in the business. The partners have different opinions about the strategic direction of the business, compensation plans based upon their contributions, and the appropriate way to integrate and develop family member employees in the business. Partner conflict is impacting teamwork and performance.
Company Overview: First generation, multi-unit franchise business, two partners with locations in multiple states and a diversity of brands
Challenge: First generation business owners, needing to recruit and retain key employees to build leadership bench strength. The owners have always simply hired to fill positions and were experiencing continual turnover, which was not only costing money, but also preventing the company from growing due to lack of leadership in key roles.
Location: Midwest United States
Company Overview: Second generation, family-owned company
Succession Matrix® Issues: Leadership & Management Continuity, Management Synergy & Teamwork, Successor Preparation, Family Governance
Challenge: The owner is ready to retire, yet no successor is fully ready to take over. Two of his three children are working in the business with the inactive son uncertain about his future involvement with the company. The two active siblings and senior managers are all trying to compete for the opening CEO position.