Family Business Wiki's Town Square

Family Business Wiki's TOWN SQUARE

All Blog Posts (369)

Trust in Governance

“Trust in governance?”

This is a challenging statement to make in the aftermath of an economic meltdown that has been blamed on systemic failures in corporate and banking governance. In the past 12 months there has been no let up in the demands for more rules and guidelines that some believe could help to mitigate the type of opportunistic management behaviour that results in reduced shareholder returns.

While some businesses will no doubt be subject to more stringent… Continue

Added by Ken McCracken on October 26, 2009 at 4:46am — No Comments

A near death experience

A near-death experience

How a lack of understanding by professional advisers almost killed off a family business

by George Stevenson

Mathiesons is a fourth/fifth generation, family owned bakery and restaurant business based in Falkirk. Two years after I married the younger daughter of the majority shareholder, I was invited to give up my career as a marine geophysicist and join the family firm. Two years later I was managing director. That sort of thing happens in… Continue

Added by George Bruce Stevenson on October 3, 2009 at 10:21am — No Comments

First steps, great results, too much to do.

Last Thursday, September 10th with the support of Mr. Guillermo Salazar Nava and the whole team I’m working within the Venezuelan Industrial Union – CONINDUSTRIA, I achieve one little dream of held a lecture of Mr. Nava about (Family protocols) for a small group of selected family enterprises. Since, I got involved early this year with good practices of corporate governance for small and medium enterprises SMEs and later becoming a member of The Family Firm Institute FFI with the intention to… Continue

Added by Pablo Aure Fariñez on September 15, 2009 at 4:30pm — 2 Comments

It’s a Kind of Magic: Family Meetings

From my experience, I can see that it all depends on the level of commitment of the members of a family for a shared future. And, of course, a good dose of respect for each other (the key that opens all problems with communication).

I’m still impressed by the magic of many families in their first meeting as a working group. Some times, as a consultant, you only need to sit and wait: instinctively they find their way to improve their communication and their openness to dialog as they… Continue

Added by Guillermo Salazar on September 4, 2009 at 9:51am — No Comments

Developing Next Generation Leaders

When advisors talk about planning for succession, they are often talking about the immediate challenge of selecting an individual who can run the business once the CEO retires. The process of succession planning is actually more extensive and multi-faceted and including issues such as good corporate and family governance, and strategic planning. That being said, one of the most important things that families who seek to maintain ownership across generations can do is to prepare the next… Continue

Added by Andrew D. Keyt on September 1, 2009 at 1:46pm — No Comments

Beatles, Stones & FB Advisors

A couple of years ago in a lecture that I gave, one attendee asked the following question: "They say that what has enabled the Rolling Stones last over time (unlike the Beatles), is the presence of a psychologist who helps the group members. Could we say the same for consultants in family businesses?”

The question reflected a typical misconception people use to have about the consultant role: that of "The Savior" who comes to fix things in the family business. The problem is that… Continue

Added by Guillermo Salazar on August 24, 2009 at 10:43am — 1 Comment

families responding to the financial meltdown by learning and growing

How wealthy families respond to financial losses – and how advisors can help them

2008 was a bad year for money – even for people with lots of money.

Maybe cutting back on vacation homes or country clubs doesn’t seem like a real trauma, but many families who are still “wealthy” have indeed been going through an emotional crisis. They may have lost the feelings of safety and stability which came from their wealth – and they may have lost the trust which they invested in… Continue

Added by Dennis Jaffe on August 17, 2009 at 1:45pm — 1 Comment

Family Managed Business Conflicts - Emotional Intelligence is the key.

I truly believe that all conflicts in FMB arena are connected to lack of Emotional Intelligence of the members involved in the conflict.The conceptual understanding of Emotional Intelligence is not enough to manage conflicts in FMB, in fact the spirit to apply this concept for larger good of the organization and its stake holders is the key.

In my 15 years of experience as Family Managed Business strategy consultant, I am constantly haunted by wild fires in large FMB organizations… Continue

Added by krishna sagar on August 17, 2009 at 6:52am — 2 Comments

It's (too) easy to focus on dysfunctional family businesses

MSN Money recently ran a high-profile article (with photos, of couse) entitled 10 Dysfunctional Family Businesses (or "Dynasties of Dysfunction"). The "usual suspects" were noted: Hilton, Murdoch, Redstone, Prtizker, Bronfman -- along with some new additions, e.g., the Hulk Hogan family.

Boy, is this an easy target for journalists. Just like the local TV news… Continue

Added by Donald Levitt on July 28, 2009 at 9:30am — No Comments

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