Introduction

Abstract

This is the third of a series of casebooks on issues faced by families owning and managing a business. This group of cases is focused on the management of growth, decline, and transition in such firms. These cases are clustered together because family firms grow, decline, and grow again. They often transform themselves several times in the course of their existence. This change also has significant impact on the firm-owning families and their individual members. In all of these cases, the answer as to what to do when growing or declining is never clear. These cases show that the options for dealing with growth, decline, or a transition are fraught with uncertainty.