I surmised that due to an ever-shifting, real-life daily challenge for young adults to fill their father’s shoes, they never quite got it right. To make matters worse, their parents continued to place higher and loftier goals on them and still continued to critique their…Continue
Added by Harry McCabe on April 26, 2011 at 3:15pm — No Comments
Exaudi Competitive Legacy Knowledge (www.exaudionline.com), in conjunction with the University of Zulia (Maracaibo), the Metropolitan University (Caracas) and the University of Carabobo (Valencia), conducted the study "Characteristics and Trends of the Venezuelan Family Business (period 2010-2012)”, taking a sample of 106 companies from a universe of 600 and applying an online questionnaire methodology.
A major finding is the strong roots of…
Added by Guillermo Salazar on April 26, 2011 at 10:30am — No Comments
When banks weigh in on the subject of family business and succession planning it’s kind of like watching a football player teach dance moves to a ballerina. Business owners couldn’t find a more ill-suited source of information on a hugely important issue. Banks are big and careful and always quick to offer two-handed advice: “on the one hand you can do this; on the other hand you can do that.” It’s white bread advice and it’s letting business owners down.
Added by Tom Deans Ph.D. on April 25, 2011 at 9:30am — No Comments
Founders are entrepreneurs by definition. If not, companies would not be founded. Entrepreneurs in open economies create value and capture part of this value.
With the passages of time, it is not easy for families to sustain the entrepreneurial behavior of their companies. The founder usually “don’t have”, are not rich in resources. They are rich in energy and commitment. This means that the pleasure of creating something important to them and their environment is…Continue
Added by Alberto Gimeno-Sandig on April 13, 2011 at 5:35pm — No Comments
Added by Juliette Johnson on April 12, 2011 at 11:00am — No Comments
Demographics and Family Governance: The Vanishing Middle
Kelin E. Gersick, Ph.D.
Many of us spend a lot of our time designing and advocating family governance: boards of directors, family councils, family offices, family assemblies, foundations, and ad hoc committees to decide what to have for dinner. There is no doubt that responsible ownership requires the right architecture and process of governance. But these designs are not theoretical…Continue
Personal financial planning is a critical component of business succession planning. The general subject of personal financial planning is broken down into four components: wealth development and financial independence, estate planning, credit continuity and exit strategy. Within the topic of wealth development and financial independence is sufficient personal income to facilitate independence from the continued success of the business. The presumption is that if you are dependent upon the…Continue
Added by Loyd Rawls on April 6, 2011 at 10:00am — No Comments
Many family business entrepreneurs have no need for boards. To them a board is a group gets in the way and tells them what to do. They don’t like being told what to do. That is why they are entrepreneurs.
An entrepreneur is typically the one with the most power. They tend to make the most important family, ownership and management decisions. One of the most critical things they do is resolve or “balance” the often-competing interests of the family, owners and management. When…Continue
Added by Cary Tutelman on April 1, 2011 at 8:00am — No Comments
Added by Grégoire Imfeld on April 1, 2011 at 5:00am — No Comments