Second edition
This practical guide is available in other languages.
In the practical guide „Nachfolge im Familienunternehmen langfristig sichern – Wie Nachfolge in Unternehmen und Gesellschafterkreis gestaltet werden kann“ (Securing succession in family businesses for the long term – How succession can be shaped in the business and shareholder circle), published by the WIFU Foundation, Torsten Groth, Tom A. Rüsen and Arist von Schlippe demonstrate why corporate succession should not be understood as a one-off handover decision, but as a long-term, cross-generational process. Based on the close co-evolution of the business family and the enterprise, the authors argue that viable succession solutions can only be developed through the interaction of both systems and must always take the respective familial and entrepreneurial characteristics into account.
The central element of the guide is the extended Witten Succession Model, which describes ten interrelated development phases – from early expectations of the next generation, through training, selection and entry, to the exit and reorientation of the senior generation. For each phase, typical questions, areas of tension, and clarification needs are highlighted from the family and company perspectives. The guide makes it clear that succession begins long before the formal handover and continues to have an impact even after the change in responsibility.
Complementing the process perspective, the authors formulate ten practical guidelines for designing family business succession. These range from addressing succession early on and clearly separating shareholder and business succession to prioritising competence over lineage. The guide therefore offers not standardised recipes, but structured frameworks for thought and decision-making, which support entrepreneurial families in developing viable, low-conflict, and future-securing succession plans.
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Keywords
Family
Family business
Succession
Communication
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