Developing Family Business Policies: Your Guide to the Future

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Overview

Developing policies to guide decision making can help the family business avoid serious problems.  When everyone in the family understands the basis for decision making there is very little room for feeling slighted— yet few businesses take the time to work together to develp their policies.  The authors provide a step-by-step process for engaing family members in developing policies which cover issues such as:  dealing with conflicts of interest; retirement timing; distribution of profits; loan programs; compensation and succession.

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Product Details

  • ISBN-13: 9781891652011
  • Publisher: Family Enterprise Publishers
  • Publication date: 1/1/1998
  • Series: Family Business Leadership
  • Edition description: New Edition
  • Pages: 89

Meet the Author

Craig E. Aronoff is Co-founder, Principal, and Chairman of the Board, of The Family Business Consulting Group, Inc. He is a leading consultant, speaker, writer, and educator in the family business field.  Aronoff is perhaps the most prolific writer in the family business field.  As the founder of the Cox Family Enterprise Center and current Professor Emeritus at Kennesaw State University in Marietta, GA, Aronoff invented and implemented the membership-based, professional-service-provider sponsored Family Business Forum, which has served as a model of family business education universities world-wide. He has held the Dinos Eminent Scholar Distinguished Chair of Private Enterprise and was a professor of management in Kennesaw State's Coles College of Business.  The Aronoff Professorship of Family Business at Kennesaw State University was named in his honor.

Joseph H. Astrachan is a Principal in the Family Business Consulting Group, Wachovia Eminent Scholar Chair of Family Business, Professor of Learning and Professional Development, and Director of the Cox Family Enterprise Center at the Coles College of Business, Kennesaw State University.  In addition he is Distinguished Research Chair of Family Business at Loyola University Chicago’s Business School.  Internationally-known for his expertise in family business, he serves on the Corporate Boards of Beaulieu of America, Foley Equipment Company, Banner Properties, All Medical Personnel, and Devin Properties.  He is editor of Family Business Review, a scholarly publication of the Family Firm Institute (FFI) of which he is a former board member. Astrachan received the Richard Beckhard award, which is the Family Firm Institute’s highest honor for contributions to the field of family business, and the International Family Business Program Association’s Lifetime Achievement in Research Award.

 John L. Ward is Co-founder of the Family Business Consulting Group Inc. He is Clinical Professor at the Kellogg School of Management and teaches strategic management, business leadership and family enterprise continuity. Ward is the author or co-author of several leading texts on family business, Keeping the Family Business Healthy, Creating Effective Boards for Private Enterprises, Strategic Planning for the Family Business, Perpetuating the Family Business, Unconventional Wisdom and Family Business Key Issues. He is also an author of a collection known as The Family Business Leadership Series, each focusing on specific issues family businesses face.

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Table of Contents

I. Introduction: A Wonderful Gift
• II. What Policy Making Can Do for Your Family and Your Business
• III. How to Develop Your Policies
• IV. What Policies Do You Need? and When?
• V. Shareholder Agreements
• VI. Other Policies to Consider
• VII. One Policy, Two Ways
• VIII. A Word About Implementation
• IX. Summary
• APPENDICES - Appendix A: Family Business Policies to Consider - Appendix B: Sample Conflict-of-Interest and Self-Dealing Policy - Appendix C: Sample Philanthropy Policy
• Index

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