The Manufacturing Club, together with the EBRD (European Bank for Reconstruction and Development), has held a workshop on Succession Planning.

The workshop aims to inform the enterprises for the preparations that should take place when transferring management and ownership from one generation to another. The transfer should be completed by implementing a strategic plan which would not hinder the continuity of business activities.

The family business model has a more complex structure which gets even more complicated when we consider the family component as well. Generally, business models are represented by ownership and management, but in family businesses, the “family” component interacts with the other two components, namely ownership and management. Hence, it makes family businesses unique, as in most cases the “family” dominates and represents both ownership and management.

This workshop showed the entrepreneurs about the roles they have in family businesses and the difference between management and ownership, as well as the steps that need to be taken to transfer the management of the company from one generation to the next.

Presentation of the workshop was made by Boris Vukic, partner and founder of Adizes Southeast Europe (ASEE) since 1995 with experience in family business, business transformation and the founder of “Club 2040” for family businesses.

While a case study was presented by Stipe Borovac, son of the founder of Borovac d.o.o, now in the role of the executive director who shared his experience with the participants.