Family Business / Edition 2

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Family-owned businesses face a tougher challenge today than ever before. To ensure your success, Family Business provides you with the next generation of knowledge and skills needed for the profitable management and leadership of the family enterprise. And because the textbook focuses on how to position your family business for a successful future, Family Business is the textbook you'll refer to again and again in the years to come.
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Product Details

  • ISBN-13: 9780324317039
  • Publisher: Cengage Learning
  • Publication date: 7/18/2006
  • Edition description: REV
  • Edition number: 2
  • Pages: 400
  • Product dimensions: 6.44 (w) x 9.24 (h) x 0.83 (d)

Meet the Author

Ernesto Poza is a professor for the Global Entrepreneurship and Family Enterprise at the Thunderbird School of Global Management. His research interests are in the areas of family business continuity, growing the family-led business, governance of family business, and family culture.
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Table of Contents

Preface vii

About the Author xv

Part I The Family Business: What Makes It Unique?

chapter 1 The Nature, Importance, and Uniqueness of Family Business 1

chapter 2 Great Families in Business: Building Trust and Commitment 27

chapter 3 Ownership of an Enterprise Built to Last 49

Case 1 The Binghams and the Louisville Courier-Journal Companies 67

Case 2 Small Family Business Power Play at the Inn 69

Case 3 The Ferre Media Group 69

Case 4 Small Family Business "She'll Always Be My Little Sister" 77

Case 5 The Vega Food Company 78

Part II Leadership Imperatives for the Family and Business: Succession and Continuity

chapter 4 Succession: Continuing Entrepreneurship and the Next Generation 85

chapter 5 Succession and the Transfer of Power 107

Case 6 Sigma Motion, Inc. 127

Case 7 Small Family Business The Ambivalent CEO of the Construction Company 137

Case 8 Small Family Business Borrowing to Grow at Andrews Company 138

Case 9 Small Family Business Adams Funeral Home 139

Case 10 Fasteners for Retail (Part A) 141

Case 11 Ferre Media Group (Part B) 156

Case 12 The Cousins Tournament 160

Part III Best Practices for the Management and Governance of the Family Business

chapter 6 Creating the Strategy 167

chapter 7 Planning the Estate 187

chapter 8 Financial Considerations and Valuation of the Family Business 201

chapter 9 Key Nonfamily Management: The Visible Commitment to Managing the Family Business Professionally 231

chapter 10 Family Business Governance: Advisory Boards and Boards of Directors 247

chapter 11 Family Communication: Family Meetings, Family Councils, and Family Offices 271

chapter 12 Change, Adaptationand Innovation: The Future of Family Business 293

chapter 13 Continuing the Spirit of Enterprise: Lessons from Centennial Family Companies 325

Case 13 PrivateCo Business Valuation Report 345

Case 14 Reliance Industries (Part A) 355

Case 15 Small Family Business The Son-in-Law 367

Case 16 Small Family Business The New MBA 368

Case 17 Small Family Business Real Estate Development Partners, Inc. 369

Case 18 Small Family Business Glassking Distributor Company 373

Case 19 New Way Distributing 373

Case 20 The Reliance Group (Part B) 375

Index 379

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