From generation to generation: How family businesses adapt to changing environments

19 Nov 2021

SMU Professor Emeritus of Finance (Practice) and Senior Academic Advisor of the SMU Business Families Institute Annie Koh explained how constant evolution rooted on entrepreneurship helps family businesses survive. An SMU study found that potential leaders need to be exposed to the business 10 to 15 years before transition happens. The study also found that having formalised structures builds resilience, while having a family constitution and governance rules written down can also help avert potential family disputes.

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