Succession Journey Map*
Navigating Intergenerational Transitions in Family Enterprises
This new Succession Journey Map is an interactive, online tool developed by the Family Enterprise Foundation to assist family businesses in navigating the complexities of intergenerational succession. Designed to be used collaboratively by family members, this resource guides users through the critical components of the succession process across three fundamental areas: family, business and ownership.
Key Features
- Interactive Learning Modules — The tool presents a structured pathway, compared to climbing a mountain, where each “camp” or stage represents a phase in the succession journey. Users engage in various exercises, readings, and multimedia content tailored to their generational stage and succession challenges.
- Customized Pathways — By identifying their current position – be it first-generation founders, siblings, parents, grandparents, or members of the next generation—families receive curated content relevant to their unique circumstances, for targeted learning and planning.
- Holistic Approach — Emphasizing the interconnectedness of family dynamics, business operations, and ownership structures, the Succession Journey Map encourages a full view of succession planning, ensuring that all aspects are thought through.
- Accessibility — This tool is available to all family members involved in ownership, management or family governance. It is user-friendly and promotes engagement and technological skills across different age groups.
The Succession Journey Map is an exceptional innovation for Canadian family enterprises. It takes a practical, experience-based approach, drawing from the collective wisdom of families that have successfully navigated succession. The Map offers a valuable guide for families aiming to secure their legacy across generations by focusing on real-world insights and common-sense strategies.
* The Family Enterprise Foundation is grateful to the Mannix and Saputo families for their generous support and invaluable leadership in developing the Succession Journey Map.