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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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A Founder Dies

Due to the complex network of roles and relationships in a family enterprise, a founder’s death brings with it a set of unique challenges for enterprising families. In working with business families and families of wealth over the past 20 years, I have noted a few apparently repetitive dynamics that emerge in some families when their patriarchs die.

 
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Manage Change Better in Your Family Enterprise

Whether transitioning to new business, changing governance leadership, managing the aftermath of a long-anticipated liquidity event, or moving from centralized family leadership to governance that includes more voices, business families must learn to anticipate and confidently handle change. Change management principles are not new; yet there are special considerations when applying them to a business family.

 
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From Leadership to….? Planning for a meaningful future when you are no longer at the helm

Because the work we do with enterprising families is often centered around helping them focus on important planning for the future, we often see how urgent matters can make this longer-term planning difficult to prioritize. One aspect of longer-term continuity planning that is often underdeveloped is the planning leader’s need to make plans for their own personal continued sense of fulfillment and joy when they are no longer in a daily leadership role in the business.

 
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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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Family Owner Development -- The Foundation for Continuity

Providing your family’s enterprise with the competitive advantage of an effective owner team requires foresight and the commitment of significant family resources to both the planning and delivery of development opportunities. The good news is that despite a daunting list of competencies required, if you start early, you have plenty of time to influence potential owners.

 
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Family Business Employment Policies: Evening the Playing Field for the Next-Generation

“Family employment policy” may sound formal and intimidating, when in reality, it takes away some of the stress that arises in a business in transition and sets the next generation up for success. At its basic level, it is an agreement on the general principles and guidelines surrounding the development of the next generation and their involvement in the family business. It is simply a roadmap. A sound family employment policy addresses the following key areas.

 
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Four Generations, One Workforce: Valuing Generational Differences in a Family Business

While these multiple generations affect all of society, they are having an especially unique impact on family businesses. The ongoing struggle between honoring tradition and pioneering change is playing out as Traditionalists and Baby Boomers try to maintain the family business values and guiding principles, while X-gens and Millennials seek more rapid change, particularly in the culture of the workplace.​

 
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Why Wait? The Financial and Emotional Rewards of Philanthropic Giving

Enterprise-owning families work for generations to build their wealth but most do not invest the time to plan for transferring it effectively. By Jennifer Pendergast and guest contributor Bo Wilkins FBA August 2017

 
FBCG Next Gen Education

Family Business Education for the Next Generation

The goal of family business education for the next generation is acquiring collective wisdom that could last centuries. That’s why the time and the effort to provide it are so worthwhile for the family and the business.

 
 
Results: 764 Record(s) Found.

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