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Wednesday, July 01, 2009 11:32 AM

LEADERSHIP MATTERS: Ask yourself, 'Can my kid cut it?'

By KEVIN EICHNER, Leadership Matters

Maybe it’s because we’re fresh on the heels of graduation season, but lately I’ve been thinking about the family business succession issue. You know the question: Is Johnny or Julie ready? Can they cut the mustard?

All of us know horror stories of how perfectly fine enterprises were run into the ground by ill-suited and poorly prepared progeny — of how families and organizations were torn apart in the aftermath of the dismal performance of “the chosen.” Happily, there are also many stories where the succeeding son or daughter took the business to a whole new performance level.

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