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What Does Non-Family Management Want From Ownership?

Recently a small group of non-family CEOs of significant family firms met together. They discussed what they would like from the family owners of their businesses. Here is their top tenĀ list follows:

What Does Non-Family Management Want From Ownership?

  1. Clear objectives and purpose.
  2. Clear values and commitment to them by the family.
  3. Support of meritocracy culture.
  4. Clarity on what is ownership role and what is management role.
  5. Freedom to act and operate.
  6. Family rules to manage family members inside the business.
  7. Forum for dialogue between owners and management.
  8. Fair compensation system.
  9. Opportunity for personal development.
  10. System to evaluate and motivate non-family CEOs.

 

 

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