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Helping Family Businesses
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Results: 760 Record(s) Found.

Rotational Systems: An Approach to Career Development

By Jennifer M. Pendergast, Ph.D. and Amy Schuman Many family businesses assume that the best way to prepare members of the next generation for work in the business is to move them through a series of different jobs over a period of time. Whether or not the next-generation family members have worked outside the business, they are often encouraged to gain wide exposure within the business before settling down in one position.

 

In-Laws or Outlaws? Making Siblings' Spouses Part of the Team

When Angela married David, she was excited about joining a high-energy, well-respected, affluent family in a small, mid-western town. True, she had to move from her beloved California,and leave behind a teaching job.

 

Bringing Stepfamilies into the Family Business

Mark, a successful entrepreneur, had a plastic molding enterprise that expanded to include factories in England and Russia. While growth led to more success in his company, an expansion in his personal life eventually threatened the business.

 

Family Education through Roles in the Business: Getting Buy-In From Key Non-Family Managers

By Chris Eckrich and Steve McClure Business-owning families are always challenged with the potential of “us/them” relationships with non-family management. Nowhere is this more evident then when educating young family members through roles in the business. Exposure to a non-family manager or key employee, through a mentor relationship, a summer job or an entry-level job in the family business, is a unique educational opportunity for young family members. To maximize the learning potential of ​

 

Transitioning from Family Leadership to Non-Family CEO: Best Practices for Maintaining a Family Enterprise

As a family business moves down the generations, the likelihood that it will need to turn to a non-family leader increases. Because of either lack of interest or lack of skills, families frequently find themselves in the situation of having to consider a non-family leader. The ability to navigate this change successfully is one of the determinants of family business survival.

 

The Non-Strategic Value of Directors

Author: Kelly LeCouvie Source: The Family Business Advisor

 

What Family Business Owners Deserve

Every owner has certain legal rights—for example, if they have voting stock, the right to vote their shares.

 

Including In-Laws: A Different View

We typically advise second generation family businesses to include in-laws as equal participants in family meetings and decision-making and as active members of the family council. Usually, they can bring fresh perspectives and diversity of thinking and it’s better for them to hear news first-hand.

 

When the Family Council Needs a Makeover

When a family council is formed for the first time, there is often a backlog of issues to be addressed by the newly formed group. The initial activities are specific to the needs of each business family, yet they often include the following: Helping the younger family members and spouses begin to understand the business and their role as stewards.

 
 
Results: 760 Record(s) Found.

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