• OWNERS OF A FAMILY BUSINESS WHO WISH TRANSITION TO CHILDREN FACE A TRICKY ROAD, since fewer than 30% survive through 2nd generation and only 12% endure to the third before derailing, according to latest analyses. A few steps which can best navigate transition are: (1) Don’t just assume that children want to take over, that it’s consistent with their authentic path (e.g. art, sports, politics) or personalities; (2) Insist they gain some external work experience along the way to ensure knowledge, fresh ideas, confidence in themselves, and likely greater respect from employees; (3) Plan for a deliberate structured approach beginning years ahead of the actual leadership change, with clearly defined roles, responsibilities and decision power along the way; (4) Ensure they ‘earn’ the leadership role, not just inherit it. DCG has decades of experience in helping facilitate this transition. [CHIEF EXECUTIVE]

 

  • THE LINK BETWEEN TATTOOS AND MALIGNANT LYMPHOMA CANCER IS UNDENIABLE, with latest Swedish study of cancer patients, finding over 80% having gotten their first tattoo within two years of diagnosis. The cause is attributed to toxic chemicals, including arsenic, lead & chromium, in the ink (especially black and grey) which are “perceived as a foreign substance by the immune system and transported away from the skin as pigment particles sent to nearby lymph nodes, triggering systemic inflammation and resulting cancers such as lymphoma and skin cancer. Laser removal then further increases risks by breaking down toxic chemical compounds used to color the ink.” The generational culture pursuit of identity tattoos with acceptance by adults is increasingly dangerous not only to health of tattoo bearers but to global society. [EPOCH TIMES]

 

  • ALCOHOL DRINKING BY WOMEN in their 30s & 40s has increased in recent decades by 60%, a faster rate than men, mostly attributed to their being more likely to attend college (where drinking is a staple), earning more discretionary income, and getting married later which extends their child-free social lives, along with the alcohol industry increasingly marketing directly toward women. Impacts, however, include doctors witnessing more hospitalizations of women for liver disease and rising rates of breast cancer (with one drink daily increasing risk by 10%). Annual female deaths related to excess alcohol consumption in the U.S. have risen 35%, compared to 27% for men. [WALL STREET JRNL]

 

  • “A GLOBAL SHORTAGE OF AT LEAST 10 MILLION HEALTHCARE WORKERS IS EXPECTED IN THE NEXT FIVE YEARS according to the World health Organization, worsening health care including: immunization, safe pregnancy and childbirth practices, prevention & treatment of infectious diseases, and management of chronic or noncommunicable conditions to more than 4.5 billion individuals. McKinsey Health Institute analysis finds that closing this shortage could avert 189 million years of life lost to early death and lived with disability… A distressing risk to critical social infrastructure which is the backbone of societal well-being and development, especially in an increasingly aging world.” https://www.mckinsey.com/mhi/our-insights/heartbeat-of-health-reimagining-the-healthcare-workforce-of-the-future

 

 

THOUGHT FOR THE WEEK

 

  • In organizational leadership roles, especially negotiation with or supervision of others, it’s important to always remember the Peter Principle: the reality that people tend to end up at their point of maximum incompetence – i.e., that they tend to get promoted until they reach a position at which they struggle, precluding further promotion, and are effectively a step or two beyond their last level of efficiency or effectiveness. While a psychological concept, it’s a good reminder that knowledge which served well in the past may not be enough for future challenges.