What problems can occur when a firm transitions to new ownership following the death or retirement of the owner? What steps can be taken to prevent succession conflicts? If the firm must be sold (to a family member) to provide retirement funds for the former owner(s), how is this typically accomplished if the new owner does not have sufficient funds to buy the firm? You may wish to present some case studies on successful and/or unsuccessful succession examples. Note: The wine industry has a tradition of family-run enterprises that span generations. Succession within the wine industry provides some excellent examples of problems in this area.8) Succession issues (your team can choose to focus on family-owned or family run firms): What problems can occur when a firm transitions to new ownership following the death or retirement of the owner? What steps can be taken to prevent succesion
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