Inheriting a family business is often seen as a privilege, but for second- and third-generation leaders, the challenge lies in balancing tradition with transformation.

While conventional wisdom suggests that only a fraction of family businesses successfully transition to the next generation, recent insights indicate a greater resilience, particularly when these businesses embrace innovation.

Some choose to preserve the legacy while others push for reinvention, but how do they decide which path to take?

On The Peak Special on The Right Business, Hongbin Jeong speaks to Zat, Editor-in-Chief of The Peak Singapore, to find out more.