What are next steps to achieve growth and manage the longevity of the business for a family-owned Asian food distributor?
What are next steps to achieve growth and manage the longevity of the business for a family-owned Asian food distributor?
By 2024, Asian Food Distributors, Inc., a family-owned Canadian grocery distributor, had grown to 120 employees and stood at the brink of succession as husband-and-wife co-owners Lee and Ming consider transitioning the enterprise to their 6 children and their spouses. All potential successors have different values, skills and past contributions to the business, and Ming and Lee must consider all factors as well as the dynamics among the family members carefully, not only for the ongoing business but also for the maintenance of the family relationships. At the same time, the family grapples with different macroeconomic trends and challenges and opportunities unique to their business. In this case, students will learn about a family business in transition and will be asked to serve as an advisor.
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