Strategy, Success and Succession: Bridging the Strategy Gap in Family Firms
The 2016 PwC Report records a shift in management emphasis from the short term and the tactical, to the medium term and the strategic.
Successive surveys, both Irish and global, show us that family businesses are not achieving their projected growth targets. The challenge is in the middle: having a strategic plan that links where the business is now to the long term and where it could be. That is what is called the ‘Missing Middle’.
Family firms may lack the skills to develop a robust strategic plan, and may not even know what such a plan needs to look like. Likewise, some family business owners assume that ‘thinking in generations’ means that the medium term will somehow look after itself, but it won’t.
Download the survey here: 2016 Family Business Survey
