continuity of family business Archives - Family Business Matters

My, How We’ve Grown In The Family Business Support Profession

I’ve spent some time looking back on a half-century career of working with families in business, and I see that, when those involved realized the overall impact of family businesses in global terms, then our consulting and support profession really gained depth and structure.

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.

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.

Eloquent Advice For Families in Business – A Letter From a Mother to Her Sons

Letter WritingWriting a letter that expresses business advice from the leader of a family business to the successors of the business is an excellent method for examining what is truly important. This exercise allows the family business leader to reflect on the values of the family, review past challenges and provide invaluable family business advice that will provide beneficial guidance.

The Glue that Holds Families & Businesses Together

Successful family business relationships are key to holding a family business together. Some of the qualities families in business must have to be successful include: shared values, shared power, traditions, willingness to learn and grow, activities to maintain relationships, genuine caring, mutual respect, ability to support each other, privacy and boundaries.

Form Should Follow Function in Family Business

Family business structure and the concept of adapting and evolving applies to family-owned business. When creating solutions for a family business, the first step is to analyze the functions that need to take place to make the business work. Family business structure and efficiency can ultimately lead to higher profitability.

Best Practices & the Power of the Golden Share

The power of the Golden Share is immense. All family businesses should be using International Best Practices for Family Business. A family-owned business is, first and foremost, a business. If a family wants its business to be successful, if must be run the way any successful business is run. Keeping the focus on the business is what makes things possible.

Spilled OJ – Creating a Family Business Mess

It can be easy to create a family business mess - even when International Best Practices for Family Business are followed. Being aware of business mistakes to avoid is optimal for delineating clear responsibility for positions and accountability for outcomes. It's important to anticipate possible outcomes of family business decisions before a family business mess is created.

“At Time of Death or Emergency”

business-successFamily business transition is something that all family businesses will endure at some point. When the founder or leader of a family business passes, survivors must have adequate information so they can make wise decisions about the business. Information should be compiled and customized so the family is fully prepared for the unexpected.

Ready for the Unexpected

business-successHaving a family business plan in place is very important. Even though it is a difficult task, families must prepare for the challenge of dealing with the death of a family member who is a key to the family business. The death of a founder or key executive in a family business is a very difficult situation, but a family business must prepare for such a situation.

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.

 

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