Managing Family Business Archives - Page 2 of 5 - Family Business Matters

Top Ten Family Business Facts | Fact #2: The Cluster Model Helps Capture the Evolution of Your Family Business Over Time

The Cluster Model Helps Capture the Evolution of Your Family Business Over TimeTraditionally, family businesses are described as constituent of three overlapping circles: 1) the family, 2) the business, and 3) the ownership (Gersick, Davis, McCollom Hampton, & Lansberg, 1997; Tagiuri & Davis, 1996). Recently, Michael-Tsabari, Labaki, & Zachary (2014) suggested the Cluster Model to update the two and three-circle models by providing a more detailed picture of the circles’ evolution over time.

Special Report on Family Business in The Economist: What You Need to Know

Special Report on Family Business in The Economist: What You Need to KnowFar from declining, family firms will remain an important feature of global capitalism for the foreseeable future, argues Adrian Wooldridge.” So begins a recent special report on family businesses published by The Economist.

Top Ten Family Business Facts | Fact #1: Economies Around the World Depend on Family Businesses

Economies around the world depend on family businessesDid you know that the success and growth of your family business matters to many people? In fact, your country’s economy may depend on it. Statistics show that family businesses are predominant throughout the world and contribute the most to the growth of worldwide economies.

What it Takes For a Family Business to Be Successful

business-successA successful family business must be poised to prosper for many generations to come. A quick list of necessary items needed to create a successful family business include: alignment on important matters, a shared vision for the company, a detailed action plan, a family constitution, a shareholder agreement, a responsible owner and an official employment policy.

The Importance of Trust in Family Business

trust_fallTrust in family business is a critical issue. Strong relationships which are based on trust and communication build equality and respect - not power and control. Trust can be built, measured, tested and repaired. It is a way of reducing uncertainty in interpersonal and organizational settings and is necessary for cohesive and productive professional relationships.

Dispute Resolution in Family Business

Dispute ResolutionDisputes can cause major disruptions within a family business and even spell an end to the business if not handled effectively. This is exactly why learning how to facilitate dispute resolution in family business is vital. The development of a shareholder agreement can prove to be invaluable in resolving differences and protecting a family business from making destructive decisions.

Consensus Decision-Making in Family Business

Strategic business decision making is related to consensus decision making in family business. Families that use a strategic business decision making process are committed to discussing issues until there is full agreement to move forward and implement a decision. If a family is committed to working together for the long term, it is best to embrace this model.

Creating the “Elegant Agreement” for Family Business

An Elegant Agreement is a family business agreement that is grounded in integrity. This type of agreement is analogous with the quote, "Take the high road through life. The view is better and it’s less crowded.” The Elegant Agreement is a win-win for everyone involved in a family business and helps preserve family relationships.

When Family Business Leads to Family Conflict

When family business conflict affects a family, the result can be catastrophic. In order to prevent family business conflict from destroying family relationships, it can be beneficial to engage a family business consultant to help the family work through the difficult process of coming to an agreeable resolution to disagreements.

Values-Based Leadership – The Next Big Thing for Family Business

Family business leadership and values-based leadership is the next window of development in the family business arena. It's important to make sure everyone involved in the family business understands the business mission and values. When a company takes the time to define its core values, a positive shift in the company culture can occur.

This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.

This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.

 

Let's Talk !

Thanks for stopping by! We're here to help,

schedule a consultation today!

 

Contact

Contact!