In family businesses, going through the stages of normal development with an intelligent mind and heart strengthens generational links , favours succession processes, increases the family's commitment to the future of the company and enables a better institutional configuration. The institutional configuration ensures that the ownership structure and its governance and succession models, among other things, favour the continuity and proper functioning of the company.
The succession process in family businesses can be difficult due to the personality of the founders, but it can also be brilliant when the intelligence and generosity of those involved allow, for example, three generations to coexist in a reasonably harmonious manner at different stages: the youngest learning to do things, the second teaching how to do things and the first stopping doing things.
When generational change becomes difficult, a deeper institutional reconfiguration may be necessary , such as the entry of new partners or the pruning of family branches.
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