This Case is about LEADERSHIP, SUCCESSION PLANNING
PUBLICATION DATE: July 15, 2015 PRODUCT #: BH682-HCB-ENG
Without proper succession strategies, a large number of Baby Boomer entrepreneurs will retire, generally during the following decade-plus. Next-generation relatives, former workers, or outsiders will assume direction of these -mature businesses, and hopefully bringing their very own visions and initiatives, in every sense, re-entrepreneurs. Re-entrepreneurship describes a procedure by which a mature enterprise could be made new again. Re-entrepreneurial leaders will strike challenges that differ drastically from those faced by traditional entrepreneurial leaders. To ensure re-entrepreneurial results, three framing principles are proposed. Seven re-entrepreneurial rules follow. While grounded in theory that was entrepreneurial, each rule is based mainly on experiential lessons shared by re-entrepreneurial executives who have formerly assumed direction series parts inside organizations that were mature –and later imaginary, restaged, and revitalized, finally reviving their businesses.