Scenario
You are on the Board of Directors of a small manufacturing company. Until now, the company has been mainly a family-run business. The founder wants to retire and has no offspring who can succeed him. The company is profitable, has been run conservatively, and does business domestically. Although the current head of the company wants to branch out, he is unsure how to accomplish that goal and wants to make no unnecessary changes. The 250 employees of this company are like family to him. He has often made decisions based on their influence rather than purely fiscal growth. While the Board understands that things need to change, they want to accomplish their goals in a way that will maintain the close-knit, family-like unity in the company, as that characteristic is an indisputable part of their organization’s success.
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