Generational change - the succession issue today
Generational change - the succession issue today
BDO Hungary Corporate Finance organised a large-scale financial conference called "Business Talks24" on 15 April in the Hungarian House of Music. The event was attended by more than 400 participants, with nearly 50 national and international speakers offering their expertise and diversity.
The financial conference focused on topics that provided guidance for managers and owners of large domestic companies and SMEs. A number of presentations covered issues such as generational change and succession within the firm, best practices to improve business competitiveness and innovative industry technology solutions.
The financial conference focused on topics that provided guidance for managers and owners of large domestic companies and SMEs. A number of presentations covered issues such as generational change and succession within the firm, best practices to improve business competitiveness and innovative industry technology solutions.
In which direction exactly can a business go? A more serious debate on the battle for a skilled workforce in a corporate culture and on the topic of generational change was presented in a number of papers. For example, Bálint Lévai, Managing Director of BioTech, would be happy to have his children take over the business, but has no expectations.
The latter statement is significant because, according to Zoltán Boldis, Director of BDO Corporate Finance, it is the generational change that two thirds of companies simply do not survive. Zoltán Boldis and Zsolt Szabó, Directors of BDO Corporate Finance, said in their presentation "Preparing companies for the next generation" that planning and making strategy are essential for generational change, and that it is also important to be aware that this process can take 1-5 years.
In a roundtable discussion on the financing of generational change, led by Róbert Tárnok, Director of BDO Corporate Finance, Péter Oszkó, Founder and CEO of OXO Technologies Holding Nyrt., suggested that successful generational change is also a psychological issue and that capital funds need to be self-critical and make learning processes interactive, as it is no longer enough to speak the same language as investors.
The latter statement is significant because, according to Zoltán Boldis, Director of BDO Corporate Finance, it is the generational change that two thirds of companies simply do not survive. Zoltán Boldis and Zsolt Szabó, Directors of BDO Corporate Finance, said in their presentation "Preparing companies for the next generation" that planning and making strategy are essential for generational change, and that it is also important to be aware that this process can take 1-5 years.
In a roundtable discussion on the financing of generational change, led by Róbert Tárnok, Director of BDO Corporate Finance, Péter Oszkó, Founder and CEO of OXO Technologies Holding Nyrt., suggested that successful generational change is also a psychological issue and that capital funds need to be self-critical and make learning processes interactive, as it is no longer enough to speak the same language as investors.
László Babicz, Director, BDO Corporate Finance, in a roundtable discussion on Energy Vision, talked about the energy crisis of the last two years and how smaller companies can survive in the global energy market after this critical period.
Csaba Hallgató, Corporate client manager at BDO Corporate Finance, led a discussion on the topic of company exits and stated that quality, organisational culture and resilience are the key factors in the stock market.
A video summary of the event can be found here: https://www.youtube.com/watch?v=IrAJLd0xvrk&t=128s
Photo by Szabolcs Németh, Economx