Scanteak: The Making of Successors in a Family Firm (B)
(5 pages of text)
This part (B) of the case follows Scanteak: The Making of Successors in a Family Firm (A) to disclose how the founders of Scanteak Corporation responded to the proposal put forward from their second child, as described in part A of the case. While part A focuses on the issue of succession at the company, part B follows the business developments and discusses the transfer of management rights and family wealth to the next generation.
This case can be taught in a succession, family business management, or family wealth management module in a graduate-level course on family business. It can be taught in a 90-minute session at the later stage in a family business course to show how different generations can work well together in a family business, and when and how to succeed. It can also be used with part A of the case in a two-part, 180-minute session to give a comprehensive understanding of family succession. After completion of this case, students will be able to
- discuss how different generations work together to grow a family business and prepare for succession;
- apply the four-phase model of family business succession; and
- analyze different approaches to transferring family wealth to the next generation, and the pros and cons of these approaches.
Singapore, Large, 2017
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