Task
The board has tasked you to provide a 2500-word brief and 5min video to assist them to address these underlying challenges. The board is keen to understand how to address the succession question, the issue around continued diversification and specifically which options may be considered to achieve this with minimal risk exposure.
Issues of conflict, succession and governance are also at the top of the agenda for the board to address. The board is also keen to understand the merits and any pitfalls of organic growth vs mergers and acquisitions- especially as a strategy for diversification
To do so, they expect you to provide justification and evidence of how this can be addressed, especially how to plan for the estate
Your ability to rely on how other family businesses resolved similar challenges will be vital. Use of relevant comparisons is encouraged as well as rational assumptions to better address some of the issues above.
Recommendations can be made based on assumptions- scenario options
Supporting information
The firm has a weak governance system and has mainly relied on the chairman of the form to provide strategic guidance (the chairman is now 85 years old and semi-retired). He will retire officially at the end of FY 2020
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