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Results: 743 Record(s) Found.

Promoting Successful Ownership Transition

By Amy Schuman Successful ownership transitions require strong, knowledgeable shareholders. A cohesive, well-informed shareholder group is a tremendous competitive advantage for a family business. How can you best communicate, educate and involve next generation shareholders in their family business? How can you create enthusiasm among family members—all very busy with their own lives—for a business that may not be very attractive to them, for a whole host of reasons?

 
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How should family businesses cultivate and prepare the next generation for board service?

How should family businesses cultivate and prepare the next generation for board service? Advice from our governance experts Craig Aronoff, Otis Baskin and Kelly LeCouvie Originally appeared in The Family Business Boardroom, September 2016

 
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Continuity Planning for Family Business Boards

Developing the qualifications for board members – both family board members and independent outside board members – is arguably the most important task to determine the ideal mix of board members. Originally published in The Family Business Boardroom Newsletter, September 2016

 
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Family Wealth Continuity

Many wealth continuity plans lock people together providing few options for how money is to be managed, by whom and with which co-beneficiaries. While there are of course certain basic requirements of any effective financial structure, to the extent that options are available – to make personal financial decisions, to align with certain others or not, or even to exit – the structures will be strengthened and relationships enhanced.

 
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In Praise of Peer Groups

As family business consultants, we often recommend that family owners join peer groups. After families have worked with a consultant to set up sound continuity plans for the leadership of the family as well as the business, there is something reassuring about meeting regularly with people who are facing the same challenges you are.

 
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Introducing Teens and Young Adults to the Family Enterprise

The universal truth is the next generation always surpasses the preceding one. That is the nature of evolution. It is the responsibility of each generation to prepare the next to exceed them. In enterprising families, there are many facets to preparation: leadership, ownership, independence and stewardship. Skill development starts early with a very young child and continues on.

 
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To Select or To Elect? Decision-Making Methods for Family Member Roles in Family and Business Governance

To be organized and productive, an enterprising family must have effective methods for decision making. Many families accomplish this through governing bodies, including a board of directors, a family council, committees, or task forces charged with addressing specific questions the family faces. Often, the method for choosing family members to serve in these governance roles is a decision with its own layer of complexity. Are representatives democratically elected or selected?

 
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Dealing with Conflicts of Interest on a Family Business Board

Last month, 180 leaders from over 100 companies attended The Private Company Governance Summit in Washington, D.C. including FBCG senior consultant Stephanie Brun de Pontet who served as a panel moderator for the session “Dealing with Conflicts of Interest on Private Company Board.” The forum focused on how to create a clear distinction between a board member’s role on the board and the other roles they may plan within or for the company.

 
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Should We Separate the Chair and CEO Roles in our Family Business?

Is a combined CEO/Chair function always the right structure? The answer becomes complicated in later generations, for bigger families, for those with more complex businesses and when governance is formalized. The opportunity to challenge tradition is while you are planning a leadership change or making significant changes to the board, such as increasing formality as with the addition of independent directors. It should also be a key question in your emergency succession plan.

 
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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.

 
 
Results: 743 Record(s) Found.

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