Substantial profitability as result of selective bidding

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Reference no: EM132247447

The Ambivalent CEO of the Construction Company

jim Symanski, 55, owns a construction company in the Northeast. Despite the slowed economy in his part of the country, jim has been able to maintain his company's substantial profitability as a result of selective bidding, minimal debt, and other good management techniques.

Even though his business is very successful, jim is completely at a loss over what to do about two sons in the business. Alan and Harry, both in their mid-30s, have each begun to press their father for an opportunity to lead the company. But jim has taken no action, and his sons have begun to believe that he has no appreciation for their contribution to the success of the company. The sons also see jim as passive and indecisive, qualities they resent.

Although Alan and Harry have both demonstrated solid technical expertise over the years, their management skills have not been tested. jim is just not sure what their leadership capabilities are. But more than that, they are the children from his first marriage—to a woman whose alcohol abuse left scars on jim and his entire family.

jim is happily remarried, and children from the second marriage are beginning to push for roles in the company. jim is afraid that giving Alan and Harry stronger roles will result in anxiety in his new family. But he's just as sure that not doing so will escalate the tension between jim and his older sons as well as reopen wounds from the first marriage.

jim regrets his inability to act—it reminds him of his frustration with his own father, who seemed equally indecisive when jim worked for him in another business. jim wants to please everyone and avoid a further split in the family.

Consider the desirable attributes and interests of next-generation successors. Can jim make a decision on how the future of his company based on these as they relate to Alan and Harry?

Reference no: EM132247447

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