Challenges of strategic planning in family businesses

Strategic planning is an essential process within any organization, guiding decision-making and allowing clear definition of necessary actions for growth and sustainability. In family businesses, it enables continuity.

In many companies where there is a transition of the business from one generation to the next, disharmony between family members and management is perceived. Rational decisions are mixed with emotional issues, generating conflicts and disorganization. Differences of interests between family members, the non-separation between personal and business assets, the lack of professionalization and resistance to change are common.

The absence of clear rules on roles, responsibilities, rights and duties also generates internal disputes. This 'combined with the absence of guidelines regarding remuneration and profit sharing and results 'OD can lead to stagnation and loss of competitiveness, which results in serious financial problems and even door closures.They are usually examples of the issue determined andlocal retail companies, which they cannot adapt to the competition of large networks precisely because of lack of prediction, prediction and projection.

Another serious problem is the poorly planned succession. The absence of a clear plan of success compromises stability. Regardless of personal issues, there must be clear criteria, with assessments of the skills of potential successors, establishment of skills, provision of training and definition of deadlines for the transition to be gradual. It is important that supervisory advice is established and that each step of the process is documented.

Well-structured strategic planning ensures that the identity of the company is maintained over time, mitigating risks. It guides decision making and aligns values and resources, allowing market opportunities to be well taken advantage of. It is a differential to ensure that the family business not only survives, but thrives for several generations.

If you do not know where to start planning your organization, the first step is to look for a good professional specialized in the subject. Not always the owners or main leaders of the company are able to take responsibility. In these cases, even in small companies, one should seek external support from a consultant, executive director (CEO) or director of strategy (CSO). The development by multidisciplinary teams (composed, for example, by marketing personnel, sales, finance and legal department (can also be a good option to ensure integrated vision.