Family Business
Free Business Articles, Case Studies & Tools For Success
Family businesses come in many sizes, and research shows that they can
have clearly defined problems, which frequently are repetitive and
avoidable. This collection of articles comprehensively covers the issues
facing the family business.
Since the same family members may be involved in both ownership and management of the family business, while others may only have one of these roles, in order to navigate effectively between family membership, ownership and management roles, it is necessary for a family enterprise to create clear differentiation and boundaries between them.
Expert Talk > Family Business > Balancing Family Relationships
Many business difficulties stem from issues within the family. Since conflict is common, families in business should learn the best methods for resolving differences before they boil over.
Expert Talk > Family Business > Balancing Family Relationships
This article intends to provide a clearer understanding of power, particularly as it is exercised in connection with the three key elements of family business, that is, the wealth, the family, and the business itself.
Expert Talk > Family Business > Balancing Family Relationships
Family businesses seem to bring out the best and the worst in us. So what winning ways set apart the successful family businesses from the dysfunctional? Successful family businesses are perceptive and understand their strengths and weaknesses. They set up processes and use techniques to protect themselves and their family members from struggling and falling out. They surround themselves with intelligent and trusted non-family members both working internally and externally of the business.
Expert Talk > Family Business > Managing The Family Business
Owning and managing your own family business can be a lonely job. So many things to do, so many great opportunities, so little time, such limited resources, so many people, so many problems. Where is it all leading? How can I get perspective? How long do I keep going? How do I get out of here? Can I afford to retire? These 12 factors are tools to manage some or all of the problems regularly encountered in family business.
Expert Talk > Family Business > Managing The Family Business
Lansberg (1988) describes succession planning as the process of making the preparations necessary to ensure family harmony and continuity of the business through to subsequent generations, emphasising that these preparations relate to the future needs of both the business and the family.
Expert Talk > Family Business > Planning For Exit & Succession
Many researchers have concluded that a staggering 90% percent of family businesses fail by the third generation. However, my own research reveals a glaring omission in almost every family business succession plan: Matters of the heart.
Expert Talk > Family Business > Planning For Exit & Succession
These businesses come in many sizes, and research shows that they can
have clearly defined problems, which frequently are repetitive and
avoidable.
Expert Talk > Family Business > Managing The Family Business
There are many advantages and disadvantages of running a private family
business compared with a listed company, and an adviser like your
accountant may just be the person to help you avoid the pitfalls.
Expert Talk > Family Business > Managing The Family Business
Family-owned businesses (FOBs) constitute the oldest and most common
form of commercial activity around the world. Unlike public companies
(many of which are also family dominated) where ownership, management, and
control are relatively distributed between company management, the board
of directors, and shareholders, the FOBs situation is reversed.
Expert Talk > Family Business > Managing The Family Business
Some FOBs have a long-term history of consistent profitability. Others,
however, have a similarly long-term history of weak performance. The
obvious question is why.
Expert Talk > Family Business > Managing The Family Business
What are your answers to these questions?
Expert Talk > Family Business > Managing The Family Business
When members work together in, or share ownership of an organisation,
it is virtually impossible to separate the different elements of the
whole.
Expert Talk > Family Business > Balancing Family Relationships
Many FOB owners express the view that they don’t have the time to
plan for the next couple of months, much less for the next two or three
years.
Expert Talk > Family Business > Managing The Family Business
Strategic planning involves putting in place a course of action to
achieve future goals and objectives. Since an owner’s departure from the
organisation is inevitable, owners that engage in strategic planning are
more likely to be prepared for the future continuity of their enterprises
than those who do not.
Expert Talk > Family Business > Planning For Exit & Succession
The theory informs the practice; and practical experience shapes the
theory.
Expert Talk > Family Business > Managing The Family Business
The experience of many firms suggests that cultures do indeed change as
new leadership takes over.
Expert Talk > Family Business > Managing The Family Business
Implementing a Council made of key members creates a venue for
discussion of important company issues.
Expert Talk > Family Business > Managing The Family Business
A documented constitution outlines strategies and solutions which can
be implemented to deal with matters that impact on organisational issues.
Expert Talk > Family Business > Managing The Family Business
The average life expectancy of a family owned business is around 25 years - the tenure of
one generation.
Expert Talk > Family Business > Managing The Family Business
The CEO of a hardware chain in Victoria knows it is time to retire. But
how to pass the baton - and to whom?
Case Studies > Succession, Mergers & Acquisitions
The founder letting go of his business can be compared to a
father leading his favourite daughter down the aisle. He knows he has to
let her go; he did not choose his son-in-law and yet he has to hand over
his precious daughter for better or for worse and trust that things will
turn out all right. (Anonymous)
Expert Talk > Succession, IPOs, Mergers & Acquisitions > Succession Planning
As we have learned throughout history, success in carrying-out a
corporation’s strategy is significantly affected by the culture of the
organization and the effect it has on developing and maintaining levels of
intensity and dedication among employees. How then do strong culture
organisations develop intensity and commitment?
Expert Talk > Workplace Change, Culture & Innovation > Achieving Cultural Harmony
A buy-sell agreement is an arrangement or contract between shareholders
or beneficiaries that specifies certain ownership rights among owners of
shares or partnership interests.
Expert Talk > Family Business > Managing The Family Business
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