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Good Governance for Family and Business Success

Whether it is creating a board for the first time, or evolving how an existing board operates, implementing good governance can be integral to protecting relationships and the viability of the family’s enterprise. In our experience, board evolution generally proceeds from “paper boards” that never actually meet to family boards composed of family owners to boards with both family owners and non-family independent directors.

 
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Hop on Board: Integrating New Directors with a Continuous Onboarding Process

Good boards are the foundation of good corporate governance and the sustainer of trust in a business-owning family. The foundation of good boards is thoughtful and thorough onboarding of new members, both family and independent, each time they are added. Embracing the above steps will not guarantee that a new member will be a success… but, careful attention to the way new members are brought into either an existing or new board will support their efforts to add value for all owners.

 
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Getting the Right Mix of Family Members and Independents for a High-Performance Family Business Board

A cornerstone of effective family business governance is developing strong boards of directors. One board factor that correlates with family business performance and continuity is the addition of outside independent directors. Another factor that has not received as much attention, is the importance of developing family members into strong directors, capable of complementing the independent outside directors. FBA July 2018

 

Integrated Family Business Governance: The Important Role of Ownership

Owners who are serious about, and committed to, their roles as stewards have a fundamental responsibility to drive and oversee the governance structures and processes of the family and the business to ensure communication and education in the family system and independence and accountability in the business system.

 
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Selecting Board Members: Guidelines for an Effective Nominating Process

We all want the same results. All family businesses want to build enterprise value, protect family relationships, and maintain continuity through generations. The right board of directors (qualified, trustworthy, and objective) is a key factor in those results. But how do you assure you have the right directors, and that they will be trusted and respected by owners and management? A well-designed nominating process is key to getting the right people in place.

 
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Is there value to having more than two independent directors serving on a family business fiduciary board?

Is there value to having more than two independent directors serving on a family business fiduciary board? We asked some of our top family business governance experts to share their advice and experiences. Family Business Boardroom newsletter

 
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Seven Steps to Recruiting Value Add Independent Directors

Incorporating independent directors into a family firm’s board is considered one of the standards for family business success. The prospect of finding independent directors who can both challenge business leaders and represent ownership interests can be daunting. Following these seven steps will help identify directors who will add value to the family business enterprise. By Anne Hargrave | The Family Business Boardroom

 
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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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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?

 
 
Results: 85 Record(s) Found.

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