Most family-owned enterprises fail or are sold before the second generation has a chance to take over. The problem is widespread but far from unavoidable. In an article in Harvard Business Review, BCG Fellow George Stalk describes how to turn the age-old problem of generational succession into an opportunity to thrive.
Transformation Amid Tough Times in the Insurance Industry
In order to attain healthy financial ratios and sustain long-term competitive positions amid extremely difficult market conditions, insurers must truly transform their businesses. This process includes reviewing and updating strategic business and operating models, target customer segments, product portfolios, distribution strategy, IT capability, cost structure, organizational leanness, and other elements of the business.