Seven Rules For Working With Your Spouse
Working with your partner brings a whole new meaning to the term ‘relationship skills’.
Managing The Family/Business Interface
The organisational structure of family business is different to that of non-family businesses. The owner is part of a family and has a duty towards the welfare of the business and the family. This dual role can lead to conflict.
Profile Of Family Business Owners
In Australia, the family business has existed for an average of 28 years (34 years in 2003). Information on the background of family business owners reveals that the average age is 55 years (53 years in 2003), ranging from 33 years to 80 years.
Transgenerational Entrepreneurship
The key to long-term family business success lies in the ability to build and sustain an entrepreneurial family.
Clear Boundaries Make All The Difference For 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.
Dynamics, Emotions And Conflict In Family Business
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.
Conflicting Hierarchies In Family Firms - Part 2
We will now turn our attention to how daughters and younger sons who become CEOs find it difficult to shake off their family ties to the bottom levels of the family hierarchy.
Conflicting Hierarchies In Family Firms - Part 1
The daughter or younger son who becomes head of the family business must struggle with both self-identity and changing family role expectations. In a sense, these problems of ambivalence, rivalry, and self-esteem arise because of two conflicting or incongruent hierarchies.
Conflicting Hierarchies In Family Firms - Part 3
The restructuring of identity seems to be a pervasive pattern in a large proportion of younger sons or daughters in family firms, particularly when undergoing a process of succession.
Conflicting Hierarchies In Family Firms - Part 4
Although help in restructuring hierarchies sometimes comes from within the family, as when a mother mediates on behalf of a younger son or a father voluntarily withdraws, help more often comes from the outside.
Women In Family Business
It appears that few women actively choose to embark on a career in a family business.
How To Deal With Copreneurial Conflict
Many family businesses are owned and managed by couples, and these copreneurs are possibly subject to much conflict.
Power In The Family Business
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.
Achieving Fairness In The Family Business
Should the shares of the company be equally divided among the owner manager’s heirs? Do passive owners have the same rights and privileges as managing owners? Is it fair to treat siblings equally regardless of their contributions to the family business?
Dealing With Nepotism And Resolving Conflicts In Family Businesses
Conflict is a normal part of any family relationship. But when you combine standard sibling rivalries or parent-child conflicts with business disputes over money, employment, management and ownership, both family and business relationships can deteriorate rapidly.
Divorce And The Family Business
Divorce is a process and not an event, and a frequent one at best. It is both an emotional and a legal process, which because of the strain and pain involved for the participants, tends to be hurried through with little attention to the resolution of the significant issues.
Mediation And Family Business Consulting
Mediation can be defined as “a process in which a neutral facilitator assists two or more parties in reaching a mutually agreeable resolution to a conflict or dispute”.
Managing Family In Family Meetings
Family meetings are an important but underused communications and planning tool for a family of trust beneficiaries or family business owners. To address the special nature of the family and make a deposit in its strength, an investment in their future success can be made every time they meet.
Does Your Family Have A Vision Of The Future Which Is Shared By All Interested Family Members?
Managing the family business successfully is a journey, with the choice of destination determined by the Family's Shared Dream.
Family Business Is Dynamite!
Dynamite is an industrial explosive. It is made up of a mixture of two components: nitro-glycerine and a substance called kieselghur (kee - zl - goor). When mixed together these two components form a 'stable' substance until it is activated. And we all know what happens when dynamite is activated.
Let's Meet, Let's Talk And Let's Listen To One Another
Have you been working so hard that you cannot see past the situation you are in and feel 'locked in' with few, if any, options and choices?
How Families Affect The Business
Workplace structures affect family life in a number of ways and vice-versa.
Family Retreats
Family retreats are ideal for exploring issues regarding family values, interests and concerns.
Family Council
The Family Council which is made of key family members is a venue for discussion of important family business issues.
Family Meetings
Family meetings are one of the two most important steps a business owner can take to ensure the continuity of the family business.
Family Assemblies or Forums
Families divide responsibility for, authority over, and ownership of their business. Over time, they redefine and reorganise these relationships.
Family Business Charter or Constitution
A documented family constitution outlines strategies and solutions which can be implemented to deal with family-related matters that impact on business issues.
Keeping The Fire Burning In Your Entrepreneurial Family's Belly
When family members work together in, or share ownership of a business, it is virtually impossible for the business to function independently of the family and vice versa.