Skip to Main Content

Helping Family Businesses
Prosper Across Generations®

Article Archive

Category:
 
Results: 734 Record(s) Found.
duck-crossing-1360983-1600x1200

Family Champions: Energy for Success

Business families require effective leadership throughout the system to fulfill their potential. A lot of attention goes to who will be the next leader of the business, and appropriately so. But there is another area in which leadership can bring great value to the family – the role of “family champion.” This person is a visionary catalyst who invests energy into the family-business system to support and develop the family-ownership advantage.

 

The Status Effect: How Ego Plays Out in Family Firms

We want to explore some insights from the world of neuroscience that speak to “ drivers of the brain” that likely play a role in both successful and less successful family business dynamics.

 
Clark_Matthew

From Partners by Chance to Partners by Choice: The 7 Cs of Trust-based Partnerships

Sibling and cousin partnerships almost always come about by chance rather than choice. Sometimes, but not usually, these partnerships are formed because siblings and cousins want to be in business together. It makes good sense then for family business partners to take the time to re-constitute their partnerships around fundamental principles – what I call the 7 Cs of Trust-based Partnerships.

 
The_FB_Boardroom_Logo

Ensuring that family business owners are strong contributors to the board

Owners on the board represent two distinct groups: owners who are employees of the family business, and those who are not. First, the role and responsibilities of directors need to be clarified. Owners should sit in the boardroom to serve on behalf of the full ownership group and not to represent their personal interests. As a director they have a fiduciary responsibility to ensure the business is well-managed. To fulfill this responsibility, they must have a solid understanding of the dynamic​

 
Gears

Evolving Your Family Business Board

Family businesses that evolve their board structures to meet the growing needs of the family and business gain greater understanding and appreciation for complexities of the governance process as well as for how best to harness the board with regard to innovation and other key areas. Beyond the board’s form, several other dimensions are important to consider such as size, composition, rotation, retirement and evaluation.

 
Pencile_graph

Understanding Profitability in the Family Business

Mixing family and money in business can be confidently accomplished when families take the time to educate themselves on the concepts and key issues surrounding profitability, build forums to gain alignment on their goals, and set policies to clarify expectations on profitability related matters.

 

Should Spouses Work in the Family Business?

We know of many family firms that allow spouses to be employed in the business. Outcomes tend toward the positive when there is a strong drive towards accountability; when the person is highly qualified for the job; when performance goals are set and reviewed regularly and feedback is given; and when there are rules in place that prohibit one spouse working for another or spouses being in the same department.

 

How to Manage Chronic Conflict in Your Family Enterprise

Have you ever had a relationship with someone where, time after time, the interactions you had with him or her left you frustrated or angry, where there was just chronic conflict? Unfortunately, many people have had this experience. And in a family enterprise situation, where there is ample opportunity for these exchanges to occur, the results of chronic conflict produce tensions that have consequences beyond the simple communication between two people.

 
HR_in_the_FB_tools_icon

Managing the Complexity of Human Resources in Family Firms

Because your business’s performance is so highly dependent on your people, HR is a crucial contributor to the superior performance of family firms. So, maximizing the effectiveness of your HR systems and practices will help maximize your performance across the board. The ideal role for HR is as a true champion of engagement of all firm resources, not just the human ones. In many firms, that will mean taking clear, practical steps to transition HR into a more strategic role.

 

Developing a Winning Strategy for Family and Business: The Parallel Planning Process

The parallel planning process, originally advanced by Randel Carlock and John Ward in “Strategic Planning for the Family and Business” (Palgrave, 2001), links these two powerful forces to recognize the real potential of family business. By helping both family and management create a business strategy that supports the interests of the family and the potential of the business, a powerful synergy can result.

 
 
Results: 734 Record(s) Found.

8770 W. Bryn Mawr Ave., Ste 1340W, Chicago, IL 60631
P: 773.604.5005 E: info@thefbcg.com 

© 2016 The Family Business Consulting Group, Inc. All Rights Reserved.

close (X)