Self-Perpetuation Family Organization Built on Values: Necessary Condition for Long-Term Family Business Survival

Family businesses have long been conceptualized in terms of overlapping and interacting management, ownership, governance, and family systems. As family businesses evolve and develop across generations, observing progress in each of the requisite systems presents a variety of challenges. This article demonstrates the importance of family organization to the systems of management, ownership, governance, and family as a family business evolves over time

Making Sibling Teams Work: The Next Generation

Through pages filled with wisdom, tips, guidelines and experiences, the authors seek to navigate brothers and sisters who work in the family business or who are active owners through the challenges and opportunities and to retain the integrity of the family while serving the business

Megatrends in Family Business

The past decade has brought changes in our understanding of family businesses. This article identifies 10 “megatrends,” which are evolving changes fundamental to understanding and working with family businesses. Identified trends include focusing on generational transitions rather than business succession; team management and ownership as a developing norm; the increasing importance of strategic planning in family business; increasing financial sophistication; increasing managerial professionalism; refining retirement; expanding roles for women; increasing sensitivity of professional service providers to family business; and increasing availability and quality of family business education and consulting

Letting Go: Preparing Yourself to Relinquish Control of the Family Business

Relinquishing control of the family business is an emotionally difficult experience. Letting Go helps family business owners and CEOs make the decision to begin succession planning. It provides new ways of thinking about giving up control of the family business and explores practical strategies for preparing, managing, and carrying out the decision to do so

Making Co-CEO Arrangements Effective

Discusses the difficulties of sharing the title of chief executive officer (CEO) by a team of next-generation partners in family businesses. Statistics from American Family Business Survey \u2797 on succession; Benefits and detriments of Co-CEOs; Advice to CEO teams; Basic decisions; Levels of authority and autonomy

Preparing Your Family Business for Strategic Change

Strategies for family firms, unlike those of other businesses, can and should incorporate family factors. Responsible and disciplined strategic integration of family and business goals, strengths and values produces powerful results. In Preparing Your Family Business For Strategic Change, you\u27ll learn: * How to reach your family business\u27s strategic potential * How to make change your tradition * How to prevent past successes from limiting future ones * How to recognize and use your family business\u27s advantages * How to overcome family business disadvantages * How to depersonalize successes to benefit the business and the family * How to create a strategic culture Creating and implementing successful family business strategy is no abstract planning process. It requires family business leaders to understand the real reasons for success, to create a culture of change, and to manage incremental strategic experiments in ways that consistently stimulate strategic thinking. Preparing Your Family Business For Strategic Change shows you how

Succession Issues Can Signal Deeper Problems

Discusses succession planning in family businesses. Complexities of the interaction of family, business, and ownership issues; Other factors that correlate more highly with family-business survival across generations including family meetings; Boards of directors; Strategic planning

Family Business Governance: Maximizing Family and Business Potential

While every family business is unique, embracing systematic governance processes can help any family business achieve goals shared by virtually all: orderly decision-making, peaceful continuity, and the freedom to make decisions based on the highest and best purposes of both the business and the family

Effective Leadership in the Family Business

Identifying and developing leaders in a family business can be more difficult than traditional business. Here Aronoff and Baskin discuss the different styles of leadership and what style might work with what family member including the Directing Leader, the Coaching Leader, the Counseling Leader and the Delegating Leader.https://digitalcommons.pepperdine.edu/businessbooks/1002/thumbnail.jp

When Can Family Members Serve on the Board?

Discusses who among members can serve the family business board. Purpose of the board; Frequently used reasons for electing family members to the board; Focus of the best family business boards