Family Business Wiki's Town Square

Family Business Wiki's TOWN SQUARE

April 2011 Blog Posts (9)

Succession Planning Business Model

My step five of the 7 Steps to Succession Model concerns Sons and Daughters of business owners.

 

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…

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Added by Harry McCabe on April 26, 2011 at 3:15pm — No Comments

A Report Overview of Family Business in Venezuela: Politics, Governance and Internationalization

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…

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Added by Guillermo Salazar on April 26, 2011 at 10:30am — No Comments

Why Family Businesses that Bank on Old Succession Planning advice Will Struggle

 

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.

Most family…

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Added by Tom Deans Ph.D. on April 25, 2011 at 9:30am — No Comments

Family Business Transformation

 

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…

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Added by Alberto Gimeno-Sandig on April 13, 2011 at 5:35pm — No Comments

Family pay: equality or meritocracy?

Family compensation can be challenging for family businesses, especially when family members find themselves being paid the same, regardless of their position or responsibilities. What is considered ‘fair’ is often the cause of significant anxiety and debate.



In a family system, wealth tends to be distributed, either on an equal basis or on a ‘needs’ basis, according to what is required and the number of offspring. Whereas in a business system, remuneration is usually linked to role… Continue

Added by Juliette Johnson on April 12, 2011 at 11:00am — No Comments

Demographics and Family Governance: The Vanishing Middle

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…

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Added by Kelin Gersick on April 12, 2011 at 10:00am — 3 Comments

Business Succession and Long Term Planning

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…

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Added by Loyd Rawls on April 6, 2011 at 10:00am — No Comments

Family Business Entrepreneurs and Boards

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…

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Added by Cary Tutelman on April 1, 2011 at 8:00am — No Comments

Can a family structure withstand attack by a Trojan horse?

While much ink has been spilled in the financial press over the trials and tribulations of Greece's finances, that country's national mythology contains many interesting facts regarding the misadventures of its dynasties.



For instance, we read that King Priam and Queen Hecuba, to whom the throne of Troy had descended through many generations, were warned in a prophetic dream that their son, Paris, Prince of Troy, would one day cause the downfall of their kingdom. The prediction came… Continue

Added by Grégoire Imfeld on April 1, 2011 at 5:00am — No Comments

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