The purpose of vision is to set the direction for the business in accordance with the values of the controlling owner and the family.
When employees understanding ‘why’ the company is doing something and ‘where’ it is headed, it becomes easier for the employees to determine ‘how’ to make decisions and ‘what’ actions to take that are consistent with the vision. This reduces the need for the controlling owner to continually be a controlling owner and frees the owner to grow the business and focus on other important duties such as succession planning.
A vision can remain relatively constant in a business that sees constant change and increasing speed of adapting to its environment.
The five steps of positive change can be highly useful in helping the controlling owner develop and implement a succession plan and the other important plans that support the succession plan. The responsibility for participating in preparing the succession plan is shared among various stakeholders who understand its importance and impact on them from communication received in the various circles. The positive change process helps controlling owners to utilize the people in their families, in their businesses and on their boards to work together to develop a succession plan that benefits the family, the business and the owners.