1. Communication and Conflict
a. Optimizing Ownership: Values, Vision, Goals
a. Outsiders: Troublemakers or Truth Tellers?
By The Family Business Consulting Group (www.fbcg.com)
“When other family members stop listening, or when the outsider has only one role to play in the family system (e.g., as gadfly), or when the outsider becomes marginalized and therefore excluded from the family system, the contribution of the outsider and the family’s overall functioning may be compromised”
In dealing with outsiders, what advice would you give to the outsider, to the family at large and what factors must be present in order to find value in the role of the outsider?…Click here for answer.
b. How to Manage Chronic Conflict in Your Family Enterprise
By Deb Houden, Ph.D. (www.fbcg.com)
“The effects of chronic conflict seep into areas of the family and business that affect each system in an unhealthy (and unproductive) way as emotions that bubble forth, during and after a specific conflict can usually be described in pain staking detail: confusion, anger, frustration, defensiveness, a need to prove, etc. The list goes on”
Is there a way to manage conflict within a family and a family business?…Click here for answer.
2. Values,Vision, and Culture
a. Optimizing Ownership: Values, Vision, Goals
By Craig E. Aronoff, Ph.D. and John L. Ward, Ph.D. (www.fbcg.com)
“While owners have certain legal rights and powers, what often distinguishes outstanding owners is their willingness to limit their own rights and do what’s right, long-term, for others’ – other shareholders, the business itself as an institution, the family, employees and the community surrounding the business.”
What are the key roles and responsibilities of owners?…Click here for answer.
b. Accountability in the Family Business: Creating a Culture for Success
By Mike Fassler (www.fbcg.com)
“As you think about accountability in your family business and how you can influence it, remember that accountability is about more than intentions; it is about exhibiting behaviors and achieving results to which you have committed.”
What role does accountability play in successful family businesses?...Click here for answer.
Item 3 Title
Content for item 3
Item 4 Title
Content for item 4
By Craig E. Aronoff, Ph.D. and John L. Ward, Ph.D. (www.fbcg.com)
“While owners have certain legal rights and powers, what often distinguishes outstanding owners is their willingness to limit their own rights and do what’s right, long-term, for others’ – other shareholders, the business itself as an institution, the family, employees and the community surrounding the business.”
What are the key roles and responsibilities of owners?…Click here for answer.
b. Accountability in the Family Business: Creating a Culture for Success
By Mike Fassler (www.fbcg.com)
“As you think about accountability in your family business and how you can influence it, remember that accountability is about more than intentions; it is about exhibiting behaviors and achieving results to which you have committed.”
What role does accountability play in successful family businesses?...Click here for answer.
c. Family Goals: The Beginning and the End
By The Family Business Consulting Group (www.fbcg.com)
“if you don’t know where you are going, any road will get you there. In business it is perfectly clear success ultimately depends on the ability to establish challenging but appropriate goals and to achieve them.”
What goals motivate successor generations to sustain the family business?…Click here for answer.
d. Honoring Family Traditions in a Changing World
by Bernard Kliska, Ph.D. (www.fbcg.com)
“After all, traditions are the foundation of the family’s business and life. In time, it usually becomes desirable or necessary to renovate. Families may even have to strengthen the foundation, but they never tear it down.”
What are some important points to remember about traditions?…Click here for answer.[/expand] 3. Family Business Issues
a. How Successful Business Families Get That Way
By Craig E. Aronoff, Ph.D. and John L. Ward, Ph. D. (www.fbcg.com)
“Over the years, we’ve been blessed with the opportunity to meet and study many of the worlds oldest and largest family firms. We’re impressed with how often we find them practicing similar methods of achieving success.”
What are these methods practice by successful family businesses?… Click here for answer.
b. Capital Markets and Family Business: Some Surprising Results
By Jennifer Pendergast, Ph.D.
“If growth is the only goal, then raising outside capital may be the solution. This viewpoint fails to acknowledge, however, that unlike other public companies, growth may be one of many goals a family business seeks to achieve.”
What should be considered before deciding whether to go public or stay private?…Click here for answer.
c. Creating Win-Wins for Non-Family Executives
By JoAnne Norton, Ed.D.
“My experience has taught me that the relationship between family owners and non-family executives is one of the most precious in any thriving family business.”
What are some things family owners can do to create win-wins for family owners and non-family executives?…Click here for answer.
d. A Chairman Defines His Role
By Craig Aronoff, Ph.D.
A thoughtful 15 point list created by one family member retiring CEO who will be continuing as Chairman…Click here for list
e. Considerations for the Nonfamily CEO
By Kelly LeCouvie, Ph.D.
“As the business grows, so does the need for specific expertise and leadership. and family employees may not have the required skills and attributes to be CEO.”
What are some of the expectations of the family and the non family CEO?…Click here for answer.
f. Going to Work in the Family Business
By Amy Schuman
“Will you be a family employee that consistently seeks special treatment and extra privileges, or a role model that leads by example? Your decisions regarding your first job in the family business will tell the tale.”
What should you consider as you set your course for success?…Click here for answer.
g. Adult Siblings in Family Business: Dreams Defer to Reality
By Campden Publishing Ltd. (www.thefbcg.com)
“But when the dream time is over, the work begins. Successful transitions take what successful businesses take preparation, discipline and an honest, clearheaded sense of the job before you.”
What are some of the basic building blocks and fundamental actions for successful generational passage of a family business?…Click here for answer.
h. Firing a Family Member
By Bernard Kliska, Ph.D. (www.fbcg.com)
“If you think firing a long-term employee is difficult, try firing one who is a family member”
Is there a way to handle firing a family member that can potentially reduce damage to the family and business and instead maybe even strengthen them?…Click here for answer.
i. The Family Factor in Family Business – Does Your Family Add or Subtract
By The Family Business Consulting Group (www.thefbcg.com)
“Most family business situations are not black and white. There are some positive elements that the family brings to the business and some negative. The key to success is to manage the family’s impact on the business so that the net impact the family is positive.”
Regarding the impact of your family on your business, what should you be aware of in order to create a plan to turn your family factor from a potential negative into a positive (or if already adding value, make an even greater contribution)?…Click here for answer.