Great Expectations: The Next Generation of Family Business Leaders

In previous studies we've talked about the critical success factors for family businesses: the 3 'S's: skills, scale and succession. These are as relevant for the next gen to be successful as they are for the current gen. And now, we think there is a fourth to add that will be critical for the next gen as they adapt to today's business environment—stakeholders. Across all businesses, stakeholders are becoming increasingly important in determining business success. And much of this comes down to the central theme of expectations—what the next gen expect of themselves and their business.