1. Why is reviewing the firm's strategy important for the succession process? 2. What strategic challenges do owner-managed family firms typically face when approaching the succession phase? 3. Given these strategic challenges, what questions do the incumbent and successor need to address? 4. 'Parallel engagement of the incumbent and successor in the firm should be minimized.' Do you agree or disagree? Why? 5. How do the roles of incumbent and successor change throughout the succession process? 6. Consider a firm you know well. What does the roadmap for management, ownership and board succession look like? 7. What are the potential sources of conflict if management and ownership succession are not well defined between successor and incumbent? 8. What can parents do to help integrate their children into the family firm?