Get the Book: L’Dor V’Dor

Succession Planning in Family Businesses: Owners’ Perceptions & Practices

By Matthew R. Kerzner, Ph.D.

L’dor V’dor is a Hebrew term that means “generation to generation.”

For me, this is a special expression, as it represents the transition of one’s culture, values, norms, rituals, and traditions. In a family-owned business (FOB), it truly is the passing down of everything important to sustain the family’s mission, vision, and values as the business moves from one generation to the next.

In the family business arena, scholars use the term “generation to generation” to visualize the passing of the knowledge, skills, and abilities to sustain that founder’s vision. As a business psychologist, when I discuss succession with my clients, both family and nonfamily, I always express the importance of understanding and honoring the past and appreciating the present of the business, to best prepare for its future. As such, L’dor V’dor is the goal for the owner and any business advisor working with FOBs.

Thinking and planning and passing the knowledge and traditions down from one generation to another is one of the key formulas in a successful succession transition.

Matthew Kerzner, Ph.D., author

Now available for purchase at Barnes & Noble, Amazon & AuthorHouse

Coming Soon: The Kerzner Stamp