This might sound like a strange statement coming from network infrastructure experts. But focusing on appliances and software solutions can lead to the development of incomplete or inadequate solutions and this can be an expensive and humbling mistake! IT Business Continuity and Disaster Recovery (BCDR) is not about appliances, power supplies, routers, switches and servers, it's about supporting business processes.
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.