Developing a strong succession plan not only helps with people understanding what will happen to the company, but also helps illustrate the plan instead of having a plan that is pieced together at the last minute. Along with succession plans are the need to stay away from 50/50 ownerships. The issues that arise are difficult decision making as both partners have to agree to move forward or if one disagrees then you’re at a standstill. This makes it difficult to move the company forward if deadlocks are always occurring between the owners. Tony stated that we should have a company where there is a majority owner so that during those times someone has an overruling power and can make decisions based on the best move for the
Developing a strong succession plan not only helps with people understanding what will happen to the company, but also helps illustrate the plan instead of having a plan that is pieced together at the last minute. Along with succession plans are the need to stay away from 50/50 ownerships. The issues that arise are difficult decision making as both partners have to agree to move forward or if one disagrees then you’re at a standstill. This makes it difficult to move the company forward if deadlocks are always occurring between the owners. Tony stated that we should have a company where there is a majority owner so that during those times someone has an overruling power and can make decisions based on the best move for the