Changing a Family-Run Business
Congratulations! You work for a family-run business, the owners are retiring, and they’ve picked you to lead the business. While you are eager to take on your new job, you face a major dilemma. How can you step into the founder’s shoes without stepping on his/her toes? Especially when you need to make major change?
Jack and Suzy Welch addressed this challenge in this week’s The Welchway column in Business Week. In a nustshell, their advice is to focus your change efforts on the founder first, before attempting to change the rest of the organization. Why? Because at least for a while, your employees’ loyalties are likely to lie with the founder and everyone in the company will be looking to see his/her reactions to the changes you are trying to put into place.
To read the Welch’s article, click here: Transforming the Family Business.
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