Final Assessment. Once the goal has been completed go back through your action plan template. Take special note of where tasks took longer than expected. Evaluate your members' performances and notate particular strengths and weaknesses so you will have a better idea of who to assign to future tasks. Evaluate your own overall performance and ask for your groups' feedback as to what went right and what could be improved upon.
Perhaps the most powerful illustration of succession's importance inside the family firm is the staggering number of family businesses that plan to hand over control to the next generation in the short_term. For instance, in the US alone, 40% of family business CEO's are planning to transfer power to the next generation within the next 5 years. When viewed in combination with the factors surrounding succession, this statistic truly represents the importance of the succession process not only within the firm, but also on a macroeconomic level_family_owned businesses have served as the backbone of society since the times of the ancient Greeks.