Meat+Poultry - September 2020 - 25

CHALLENGES
Family-owned-and-operated businesses
present specific issues, and with greater
success and age, those issues can multiply or
become magnified. Families and businesses
differ greatly, and the challenges they face and
how they deal with those challenges will also
differ. However, some core issues exist for all
family-owned businesses.
Gustafson noted succession planning,
conflict resolution and the need for open,
honest and respectful dialogue.
"Those can be challenging things though,"
he said. "Especially if you have an old guard
that thinks of things one way and a new guard
that's trying to usher in a new generation
of leadership. You've got to work through
some of those challenges and how you
communicate them."
Miniat drilled deeper into the dynamic of
multigenerational family businesses and how
challenges evolve with success and age. As a
business grows over years and generations,
so does the family that owns and operates
that business. A business' executive staff and
number of employees increase along with the
number of family members with interest in
the business. Over time and generations this
increase complicates the dynamic within the
business and the family, especially in terms of a
succession plan.
"When the prior generations took over
the business was much smaller than it was 30
years down the road," Miniat said. "So, how
do you prepare those kids and people? Do
you prepare them internally? Do you prepare
them externally? Do you send them to work
at another company for a few years, so they
get outside experience? Those are questions
and policies that are probably going to be
appropriate. So, where do you start with that?
How do you create a policy and how does that
affect your own kids or nephews or nieces? Do
you treat them differently?
"There's all kinds of questions that come up
and if you do it wrong you might have one child
that's mad at you because you chose the other.
You might have a sister that's mad because
you didn't choose her son to run the company.
There are real logical potential problems.
Those are just examples of succession."
The complexity of succession represents a
small fraction of obstacles a multigenerational
www.meatpoultry.com | 09.20 | MEAT+ POULTRY

25


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Meat+Poultry - September 2020

Table of Contents for the Digital Edition of Meat+Poultry - September 2020

Meat+Poultry - September 2020 - 1
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Meat+Poultry - September 2020 - VDG1
Meat+Poultry - September 2020 - VDG2
Meat+Poultry - September 2020 - 51
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