{"id":17274,"date":"2012-06-27T19:24:10","date_gmt":"2012-06-27T19:24:10","guid":{"rendered":"https:\/\/biznews.fiu.edu\/?p=17274"},"modified":"2017-11-08T10:23:30","modified_gmt":"2017-11-08T15:23:30","slug":"putting-success-into-succession-planning-for-family-businesses","status":"publish","type":"post","link":"https:\/\/biznews.fiu.edu\/2012\/06\/putting-success-into-succession-planning-for-family-businesses\/","title":{"rendered":"Putting \u201csuccess\u201d into succession planning for family businesses."},"content":{"rendered":"<p>Family owned and operated MIC Food Company shares similarities with other thriving family businesses in Miami. Founded in 1987 by patriarch Alfredo Lardizabal Sr., MIC Food found a niche market and serves it well, creating jobs and opportunities. The second generation is an integral part of the management of this company which provides the food industry with tropical and Caribbean fruits and vegetables.<\/p>\n<p>But like many other family-based companies, succession planning has not been completed.<\/p>\n<p>\u201cThe family has talked about it but never fully addressed all the issues,\u201d said the founder\u2019s son, Alfredo Lardizabal (BBA \u201994), COO and general manager. \u201cRunning the day-to-day business consumes all your time and energy. The years go by and the third generation is getting involved but succession planning hasn\u2019t been completed.\u201d<\/p>\n<figure id=\"attachment_17275\" aria-describedby=\"caption-attachment-17275\" style=\"width: 540px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-17275 size-full\" title=\"Alfredo Lardizabal\" src=\"https:\/\/biznews.fiu.edu\/wp-content\/uploads\/2012\/06\/Alfredo-Lardizabal.jpg\" alt=\"Alfredo Lardizabal\" width=\"540\" height=\"360\" \/><figcaption id=\"caption-attachment-17275\" class=\"wp-caption-text\">Alfredo Lardizabal<\/figcaption><\/figure>\n<p>Lardizabal said \u201cthe ball is rolling again\u201d after he and his two sisters attended the \u201cSuccession Planning: The Agony and the Ecstasy\u201d forum on May 24, 2012 at Florida International University (FIU). The event was the latest workshop conducted by the Family Business Forum, part of the Institute for Family Business in the Eugenio Pino and Family Global Entrepreneurship Center in the College of Business Administration.<\/p>\n<p>Speakers from Baker &amp; McKenzie LLP, the Cisneros Group of Companies and Sabadell United Bank told the attendees \u201cHow to get it right\u201d as they covered a wide array of long-term planning steps required for a business to successfully operate for generations.<\/p>\n<p>\u201cThe forum was very beneficial, very interesting,\u201d said Lardizabal, among the 34 attendees. \u201cIt not only reminded us that we need to tackle this issue but also gave us specific information and techniques on how to do it.\u201d<\/p>\n<p><em>Forum continues to serve family businesses.<\/em><\/p>\n<p>While the May event featured knowledgeable speakers on an important topic, Mercedes LaRue, Family Business Forum director, said upcoming gatherings will center more on members exchanging ideas with one another to share best practices.<\/p>\n<figure id=\"attachment_17276\" aria-describedby=\"caption-attachment-17276\" style=\"width: 540px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-17276 size-full\" title=\"Haar and LaRue\" src=\"https:\/\/biznews.fiu.edu\/wp-content\/uploads\/2012\/06\/Haar-and-LaRue.jpg\" alt=\"Jerry Haar, executive director, Pino Center, and Mercedes LaRue\" width=\"540\" height=\"360\" \/><figcaption id=\"caption-attachment-17276\" class=\"wp-caption-text\">Jerry Haar, executive director, Pino Center, and Mercedes LaRue<\/figcaption><\/figure>\n<p>\u201cFamily businesses go through some interesting dynamics that the average business does not,\u201d Lardizabal said. \u201cWe look forward to sharing ideas and experiences at future forums.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Family owned and operated MIC Food Company shares similarities with other thriving family businesses in Miami. Founded in 1987 by patriarch Alfredo Lardizabal Sr., MIC Food found a niche market and serves it well, creating jobs and opportunities. The second generation is an integral part of the management of this company which provides the food [&hellip;]<\/p>\n","protected":false},"author":69,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[10],"tags":[38,813,837,1157,1288,1858],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/17274"}],"collection":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/users\/69"}],"replies":[{"embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/comments?post=17274"}],"version-history":[{"count":6,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/17274\/revisions"}],"predecessor-version":[{"id":29497,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/17274\/revisions\/29497"}],"wp:attachment":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/media?parent=17274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/categories?post=17274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/tags?post=17274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}