Leading the Family Business Through Succession - by Harry Korine & Michael Hilb (Paperback)

About the Book

Balance legacy with transformation with this guide to leading and developing a family business through effective multigenerational collaboration.

Book Synopsis

Leading the Family Business Through Succession examines leadership and succession in family business, showing how current and next generation members can develop the business side by side.

It challenges the traditional, hierarchical model of leadership and succession in family business, showing that this approach is no longer aligned to modern organizational needs. Instead, this book examines how current and next generations can bridge the gap and co-evolve as peers for a significant stretch of time. It outlines leadership practices families can employ to navigate the transition towards new ways of working together and how generations can collaborate to address the myriad challenges and opportunities affecting businesses today, balancing legacy and transformation.

This book is informed by methodologies tried-and-tested in years of MBA and executive-level teaching at business schools such as INSEAD, St Gallen and London Business School. Taking a global approach and drawing on cutting edge insights and research, it provides case studies and examples featuring family businesses from around the world, such as Europe, the Americas, the Far East and the Middle East, highlighting how different family businesses can learn from each other. It is ideal for MBA and executive level courses on family business and will also be of interest to family business leaders, advisors and managers.

Review Quotes

"Harry Korine and Michael Hilb offer a successful mix of approaches: practical examples, conceptual analyses, and thought-provoking exercises. This combination provides valuable guidance and support for family businesses navigating the challenges of generational transition."-- "Marie-Christine von Pezold, Independent Family Governance Advisor and Director, Family Business Network Switzerland"

"Harry Korine and Michael Hilb provide invaluable insights, practical strategies and real-world examples that will be of interest to both the current and next generation of family business leaders. Whether you are preparing for a smooth transition or facing the challenges of succession, this book is a must-read as it provides the tools and knowledge you need to ensure the long-term success and legacy of your family business."-- "Peter Vogel, Professor of Family Business and Entrepreneurship, Director of the Global Family Business Center, IMD"

"As a co-owner of a Ukrainian second-generation family business, I found this book both exciting and highly educational. The book's well-structured blend of family stories and practical advice makes it a valuable resource. Its practical guidelines and exercises are easy to apply, helping us build a strong governance structure while allowing Next Gens the freedom to pursue their own career aspirations.This perspective shift from succession to co-evolution has been truly eye-opening."-- "Olena Vovk, Co-owner, Enzym PJSC and Kormotech LLC"

"At a time when family businesses are grappling with the dual challenges of preserving their legacy and embracing change, this book emerges as an important read. It succinctly captures the intricate dynamics of intergenerational leadership, providing essential guidance for those navigating this complex terrain and emphasizing the valuable contributions that both generations bring, despite their differences."-- "Andy Lim, Chairman, Tembusu Partners Pte Ltd"

"In the family business, an effective succession process involves several generations working together, side by side. This indispensable book traces the route to follow and specifies the steps to be taken."-- "Pierre-Yves Gomez, Founder, French Corporate Governance Institute"

"Successful family enterprises that are able to thrive over generations don't "just happen" they are led. Harry Korine and Michael Hilb understand that succession should always be viewed as an opportunity for strategic renewal that must balance continuity and change and that requires leadership from both generations. I recommend this book wholeheartedly."-- "Ivan Lansberg, Founding Partner, Lansberg, Gersick and Associates"

"The big risk of family business remains succession. Harry Korine and Michael Hilb present succession not as a hierarchical issue, where at some point the current generation passes the lead to the next one, but as a collaborative one focused on both generations joining in value creation with their respective views and experiences, skills, and talents. I highly recommend the book to any family that wants to be more collaborative, so as to be more sustainable and performing, as a family and as a business."-- "Ludo van der Heyden, Professor Emeritus, INSEAD"

"This book is a gem in the vast literature on family business successions. I strongly support the view advocated by the authors that successions are not transactions but transitions, which require mutual role adjustment, collaboration, and open conversations between the generations. Combining conceptual models, short case studies, and drawing from real-life experiences the book is a highly enjoyable read. I strongly recommend it to you."-- "Thomas Zellweger, Chair of Family Business, University of St. Gallen"

"This book succeeds in restoring clarity where emotions might otherwise cloud judgment, thanks to the pragmatic approach and profound insight of its authors. With twenty-five years of experience in this field and a decade of managing the family business, I can attest to the invaluable lessons shared in this book."-- "Raffaella Zavattaro, Chair, GEFIT S.p.A."

"This is an insightful and valuable book for multiple generations. It's the perfect roadmap for families to sustain their business for the long term, providing best practice examples of how to structure governance to preserve the family while also creating value for all shareholders. It is very relevant for our third generation to embrace, learn from and implement."-- "Wissam Ariss, Vice Chairman, Unigaz Group, Lebanon; Vice Chairman, Lumière Group"

"This must-read book provides family officers and expert advisers with lessons they can apply to successful co-evolutions of generational succession in practice. Having led and advised family businesses in multiple geographic and cultural contexts for over three decades, I know this book will positively enrich your approaches to side by side cross-generational transitions."-- "Roderik J. P. Strobl, TEP, CEO, Leo Trust Switzerland AG"

About the Author

Harry Korine is a professor and consultant who advises business owners, board members and executives on leadership and value generation. He teaches corporate governance, global strategy and family business at the London Business School, the University of St. Gallen and INSEAD. He is based in Zurich, Switzerland.

Michael Hilb is founder of DBP Group and a board member of multiple organizations. He is a titular professor at the University of Fribourg and teaches strategy, entrepreneurship, corporate governance and family business at the Universities of St. Gallen and Zurich and Singapore Management University. He is based in Burgdorf, Switzerland.