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A Risk Management Model For Preservation Of Family Business

Author

Listed:
  • YEE WAH CHIN

    (Nanyang Business School, Nanyang Technological University, Singapore)

  • PATRICK K. P. CHAN

    (School of Business Management, Nanyang Polytechnic, Singapore)

Abstract

Despite the psychological and material advantages of maintaining a family business, statistic on sustained growth are grim. This paper examines why it is essential for a family business to actively plan for the management succession process using a Risk Management Model (RMM). The RMM identifies the succession exposures in the family business, evaluates the impact of the identified succession exposures, and helps to effectively control the succession exposures.

Suggested Citation

  • Yee Wah Chin & Patrick K. P. Chan, 1998. "A Risk Management Model For Preservation Of Family Business," Journal of Enterprising Culture (JEC), World Scientific Publishing Co. Pte. Ltd., vol. 6(04), pages 413-427.
    • Handle: RePEc:wsi:jecxxx:v:06:y:1998:i:04:n:s0218495898000230
    DOI: 10.1142/S0218495898000230
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