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"Trust is the most important thing" - Dr. Christiane Erten on company takeovers

At the Virtual Expert-Talk on 30.11.2021, Dr. Christiane Erten, Managing Director of Akustik Buch GmbH, shared her knowledge about the challenges of company takeovers within one's own family in conversation with Prof. Dr. Wolfgang Güttel, Dean of the TU Wien Academy for Continuing Education.

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Virtual Expert Talk: Family Business - Dr. Christiane Erten

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Dr. Christiane Erten

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We have summarized the key learnings from the expert talk for you

>> Timely succession planning: consciously thinking about succession within the company in good time is particularly important for continued success.

>> Define & adhere to milestones: To make the takeover as smooth as possible, milestones should be defined, communicated and the succession plan adhered to accordingly.

>> Preparation through further training: The change from a purely technical to a management position should be supported and accompanied by relevant further training.

>> Early involvement: Potential successors should be involved in relevant topics as early as possible in order to make the takeover more efficient afterwards.

>> Trust & Agile Leadership: "Leadership without expertise requires a lot of trust. Trust is the most important thing. Ultimately, even in the selection of personnel."  Agile leadership is also important: flexibility, dealing with ambiguity and decisiveness are essential.

Regarding the transition from employee to manager, Dr. Erten says: "Thinking that I'll take over a management position and continue doing what I was doing before, and that I'll do the managing as well - that's what people often expect of themselves. You can make a lot of mistakes here. This is where continuing education seminars are very important."

About the expert: Dr. Christian Erten

Dr. Christiane Erten was a university assistant at the Vienna University of Economics and Business Administration (WU Wien) prior to her professional career in the management of her own family business and is therefore particularly adept at combining practically valuable knowledge with scientific expertise. The company Akustik Buch GmbH in Vienna has been successfully active in the field of sound and vibration insulation since 1964 and is the leading domestic producer of soundproofing measures.

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Virtual Expert Talk - Family Business - Dr. Christiane Erten