04 Mar 2021
Commenting on the challenges in business transformation, SMU Associate Professor of Organisational Behaviour & Human Resources Tan Hwee Hoon noted that this mainly relates to the human factor, as they are the ones who must strive to accept changes. Assoc Prof Tan, who is also Steering Committee Chair of the SMU Business Families Institute, stressed that successor planning for SMEs is very important. She cited a study done by SMU postgraduates in business management – which revealed that some Chinese family businesses begin grooming their successors at a very young age – and pointed out that this is important for a smooth succession planning process.
