Strategic planning is an essential process within any organization, guiding decision-making and enabling clear definition of necessary actions aimed at growth and sustainability. In family businesses, it enables continuity. However, it can also be a challenge.
In many companies where there is a transition of the business from one generation to another, disharmony between family members and management is observed. Rational decisions blend with emotional issues, causing conflicts and disorganization. Differences in interests among family members, the lack of separation between personal and business assets, the absence of professionalism, and resistance to change are common.
The lack of clear rules regarding roles, responsibilities, rights, and duties also leads to internal disputes. This – combined with the lack of guidelines regarding compensation and profit-sharing – can lead to stagnation and loss of competitiveness, resulting in serious financial problems and even closures. They are usually examples of the issue determinedandlocal retail companies, whichthey are unable to adapt to competition from large networks precisely due to a lack of prediction, forecast and projection.
Another serious problem is poorly planned succession. The lack of a clear succession plan compromises stability. Regardless of personal issues, there should be clear criteria, with assessments of the potential successors' skills, establishment of competencies, offering of training, and setting of deadlines to ensure a gradual transition. It is important that oversight councils are established and that each stage of the process is documented.
A well-structured strategic planning ensures that the company's identity is maintained over time, mitigating risks. It guides decision-making and aligns values and resources, allowing market opportunities to be well exploited. It is a key factor to ensure that the family business not only survives but prospers for multiple generations.
If you don't know where to start planning for your organization, the first step is to find a good specialized professional in the field. Not always are the owners or main leaders of the company capable of taking on the responsibility. In these cases, even in small companies, external support from a consultant, CEO, or CSO should be sought. Development by multidisciplinary teams – composed, for example, of marketing, sales, finance, and legal department staff – can also be a good option to ensure an integrated view.
