Initiatives required of business successors

The following efforts are required of business successors who will succeed to the business in the future


1. acquisition of basic knowledge: Successors need to acquire explicit knowledge of business strategy, financial management, risk management, legal issues, human resource management, marketing, public relations, customer service, technological innovation, etc.

2. use of experts: Successors can acquire the tacit knowledge necessary for business success through the advice of experts (e.g., lawyers, accountants, tax accountants, financial advisors, management consultants).

3. human networking: Business successors can acquire tacit knowledge about business management through interaction with senior managers, managers of other companies in the same industry, and government support organizations in the community.

4. Continuous learning: It is important for business successors to continuously collect explicit knowledge about the business, identify trends, and learn about other companies' case studies.