#AGLEGACY #FarmSuccession #EstatePlanning
A formalized management approach allows the family to understand when milestones are reached on the way to fulfilling business goals.
AGLEGACY.org offers a perspective.
Formalized management incorporates planning with the use of goals, financial analysis, and other strategic management tools. A formalized management approach allows a family to understand the existing operations, evaluate alternative enterprises, measure past performance, and determine when milestones are reached on the way to fulfilling business goals. The business can also more smoothly undergo a transition like ownership and management succession. Issues can be more efficiently dealt with as they arise and changes made as needed.
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