Barbara Murray is a researcher in Lausanne where she is working on family businesses and particularly on the succession in those firms. According to her, the transmission is expected to last between 3 and 8 years on average and it is necessary to anticipate it.
Her article allows for understanding and indentifying the different stages that constitute the transmission process in the firm. She deconstructs the myth of a functioning continuity in the firm between the incumbent and the buyer and she invites thus to identify thoroughly the different shifts that operate.
For her, a smooth and progressive transformation is required for the proper running of the process. While progressively conducting a disintegration of the former leader and his system to hand over to his successor in either economical, social or cultural plans, so he does not endure the ideas and the control of the predecessor. Incumbents are then invited to let go the firm.
Murray, B. (2003). The succession transition process: A longitudinal perspective. Family Business Review, 16(1), 17–33. https://lnkd.in/g6-9H22