family business | The Language of Business

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If the Big Guy in the corner office steps down…when he does..who gets to take over – generation 2 or an outsider?

Millions of viewers were entreated by the siblings jockeying for the CEO job on the HBO series “Succession.” In Part 2 of The Language of Business look at succession in small family businesses we look at two generations of an Indonesian family business facing that succession decision..without the drama. Host Greg Stoller talks with Tya Kusumah, CEO and current BU graduate student living in LA…and her parents running the business in Indonesia. Then, Professor Patrick Abouchalache of Boston University Questrom School of Business talks about teaching family business values.

Host Greg Stoller

Tya Kusumah

Patrick Abouchalache

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Photo Illustration by Slate/Photos by HBO

Millions have watched the HBO drama “Succession” where siblings are fighting over who gets control of the family-owned multi-billion-dollar international media conglomerate. There’s no succession plan in place. But what happens when a small family-owned business needs a succession plan? Does the second or third generation want to take over the business when the parents retire? Or do they try something completely different?

The Language of Business looks at succession plans in small family businesses. Host Greg Stoller talks with Beatriz Iglesias Garcia, possible heir to Folder, the family office supply business in Spain. Then we look at Karma Concord, a family-run Malaysian Restaurant in Concord MA. Does son Daryl Quek, a student at Boston University Questrom School of Business, plan to succeed his parent? Or does he have other plans?