Entrepreneurial Family Firms Case Study

How the succession planning in this stage of the family firm could be improved to maximize their potential: ‘A Case study of Baldwin’s – the corner shop that went global’?
Introduction
Family enterprises represent one of the oldest and dominant forms of business organizations in the globe. Family businesses act as a backbone of many countries’ economies as it is estimated that they represent more than 70% of registered businesses. Consequently, family enterprises are key drivers of economic growth and a chief provider for employment opportunities.
However, most family owned companies have been observed to have a shorter life span as most go beyond their first founder. International Finance Corporation indicates that more than 90% of family businesses rarely experience the third generation of ownership (Cope, 2011). Studies have shown that many family businesses fail due to poor governance structures, inadequate succession planning and familial barriers (Carter & Schwab, 2008;).
This report shall evaluate and appraise a case study of Baldwin family firm which started as a small grocery retailer and it grew exponentially over the years. Therefore, the main purpose of this report shall be to evaluate how succession planning of the Baldwin family firm can be improved to ensure that the company maximizes its potential as the second generation takes over……………..

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