Feet of clay: What family biz leaders can learn from succession missteps

Several business gods have stumbled at the task of planning succession. What can today's family business leaders learn from them?

Okay, true story. Years ago, in 2007, I was bringing out two management magazines for Business Standard. Though I tried to infuse them with a dash of practical realism, the two mags retained an unhealthy component of theory, rendering my job lugubrious to the point of being mournful.

 

To make the most of a turbid situation, I convinced my boss to let me attend a conference on family businesses at the Indian School of Business in Hyderabad, purportedly to learn more about the theory part of management. The conference turned out to be surprisingly useful, as much for the sessions