Friday, December 18, 2015

The Boss Who Walked Away: Role Transitions in Families and Businesses - Simulation Guide

CARLOCK Randel
©2009 INSEAD.  ©2015 INSEAD Case Study
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A family business is turned upside down by the decision of its owner-manager to 'walk away' . This simulation is based on an interview with a 49-year-old man who abruptly sold the family business without warning either his employees or his family. He told his wife what he'd done and put his mother in a retirement home. He informed his two children and nephew, who worked in the business, that they could stay with the new owners but would have to make it on their own. This interview was completed shortly before Steve was to close the sale but before the long-term consequences of his actions are fully known.