Family Business Challenges
Practical guidance for family business owners and managers. Second Edition.
Understanding Family Business (Case – M.I. Dickson)
An introduction to the main family business concepts, defining where and how family firms are distinctive. How to plot your family firm’s stage of development, plus the varying and often overlapping roles, motivations and expectations of family members.
Maintaining Family Values (Case – Bibby Line Group)
Defining a shared family business vision and articulating your family values. How values can guide the firm through transitions as well as help to shape decision making, both by the owners and in the business.
Developing Stewardship (Case - Bettys & Taylors Group)
Building and passing down an enhanced legacy to future generations. Leveraging family, people, financial and social capital to drive performance. Addressing reinvestment in the business while considering shareholder liquidity needs.
Engaging the Next Generation (Case – Day Lewis)
Developing the next generation’s interest in the business in preparation for assuming ownership and/or management roles. Providing space for the next generation to learn, develop and engage while making their own choices.
Planning Succession (Case – Wates Group)
Examining the process of generational transitions. Anticipating ownership and management issues related to succession planning. Asking if the next generation are ready, willing and able – as well as should the business be family owned?
Building Family Governance (Case – Clarks Shoes)
The twin facets of family business governance; corporate and family governance. Delineating decision making for the owners and the business respectively. Protocols, structures and procedures to help the family speak with one voice.