When speaking of family business management, it goes without saying that the notion of ethics plays one of the most important roles in the context. Thus, once it comes to the choice of potential successors from the external environment, it is of crucial importance to define whether the candidate responds positively to the strategies implied for the company’s future. For this reason, the researchers suggest creating a detailed succession plan that would ensure the continuation of the family tradition in both values and management peculiarities (Solomon, Martin, and Poatsy). Hence, the Carlson companies made the right choice to employ a person that would respect both the communication with the founding family and the effort invested in the enterprise.
Works Cited
Bamfo, Bylon Abeeku, Courage Simon Kofi Dogbe, and Charles Osei-Wusu. “The effects of corporate rebranding on customer satisfaction and loyalty: Empirical evidence from the Ghanaian banking industry.” Cogent Business & Management, vol.5, no.1, 2018.