Diamond Succession Scorecard
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DJM Institute
1. the incumbent leader transfers his know-how and finds a new role
2. the successor is competent and well-motivated
3. there is governance of the family business and of the family
4. the successor finds his proper place in the leadership team
5. the family business is professionally run
6. the succession is carefully planned
7. relationships within the family are good
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  jozef lievens

4. the successor finds his proper place in the leadership team
In many diamond businesses a team of family members stand at the helm. It is important that the successor find his place within this team. This presumes that the successor subscribes to the success factors of a well-functioning team. According to Huszczo (Tools for team excellence, Davies-Black Publishing, 1996) these success factors are:

  • a clear sense of direction

Clear goals give direction and a sense of meaning to a team. They provide for unity and motivation in a team.

  • talented members

The members of the team must have the talent to perform their job properly. It can be important that the team members possess different skills which complement one another.

  • clear responsibilities

A team can only function well if the team members understand very clearly what is expected of them. It is therefore important to carefully describe the responsibilities of each team member.

  • efficient operational procedures

In order to work smoothly, a team must have efficient operational procedures. In particular, there must be a good approach for resolving problems and conflicts.

  • constructive personal relations

The team must possess the fundamentals and skills which we describe in success factor 7.


Jozef LIEVENS holds a degree in law and an MBA. He is a lawyer and partner in the Eubelius law firm. He is managing director of the Institute for Family Business and FBNet Belgium. He is an UAMS executive professor teaching the module "Leading the Family Business" in the DJMI Managing the Diamond and Jewellery Course. His website is: www.familiebedrijf.be
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