Siblings and the Family Business: Making It Work for Business, the Family, and the Future

Overview

The family business becomes much more complex as it goes from the founder/entrepreneur to next generations. As more family members work together several challenges become apparent and can threaten the business if not addressed. This book, written by experts in the field of family business, shows the family members how to confront the problems and how to create solutions. Including:

-Acknowledging that change needs to happen class
-Building a ...

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Siblings and the Family Business: Making It Work for Business, the Family, and the Future

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Overview

The family business becomes much more complex as it goes from the founder/entrepreneur to next generations. As more family members work together several challenges become apparent and can threaten the business if not addressed. This book, written by experts in the field of family business, shows the family members how to confront the problems and how to create solutions. Including:

-Acknowledging that change needs to happen class
-Building a formal structure around the business… including decision making processes
-Strengthening both personal and professional relationships
-Determining who has a role in the family business (spouses, children)
-Creating a process to address conflict
And more.

The authors have over 50 year work experience in family business - from their business research at top universities, to their global consulting practice.

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Product Details

  • ISBN-13: 9780230342163
  • Publisher: Palgrave Macmillan
  • Publication date: 10/16/2012
  • Series: A Family Business Publication Series
  • Edition description: Second Edition,Revised Edition,2nd editi
  • Edition number: 2
  • Pages: 116
  • Sales rank: 1,418,483
  • Product dimensions: 5.30 (w) x 8.10 (h) x 0.40 (d)

Meet the Author

Stephanie Brun de Pontet is senior consultant of the Family Business Consulting Group, Inc., specializes in advising family enterprises facing important transitions. She has extensive experience working with sibling teams, developing training programs to educate next generation family members, and building the framework for next generation collaborations. In addition to her consulting work, Stephanie is the executive editor of the Family Business Advisor, and recently co-authored a book with Drs. Pendergast and Ward, titled Building a Successful Family Business Board.

Craig E. Aronoff is co-founder, principal, and chairman of the board of the Family Business Consulting Group, Inc., the founder of the Cox Family Enterprise Center and current professor emeritus at Kennesaw State University. He invented and implemented the membership-based, professional-service-provider sponsored Family Business Forum, which has served as a model of family business education for universities world-wide

Drew S. Mendoza is managing principal of the Family Business Consulting Group, Inc. He was the founding director of the Loyola University Chicago Family Business Center during which time his consulting work addressed family firm succession, family meetings, and developing high functioning sibling and cousin teams. As the managing principal of the family business consulting group, Mr. Mendoza is currently focused on business development, assessing client needs, and finding the most appropriate resource for clients and prospective clients. In addition to his consulting work, Drew presents on a variety of family business issues for family business centers, trade organizations and advisor groups.

John L. Ward is co-founder and senior advisor of the Family Business Consulting Group, Inc. He is clinical professor at the Kellogg School of Management. He researches and teaches strategic management, business leadership and family enterprise continuity, governance, and philanthropy.

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Table of Contents

List of Exhibits vii

Introduction: Siblings and the Family Business 1

1 The Case for Sibling Partnerships 5

2 Why This Transition Is So Hard: The Role of Complexity 9

3 Challenges and Opportunities Facing the Siblings 19

4 Setting the Stages: The Role of the Founding Generation 29

5 Managing the Outside Risk: Bringing Sibling Spouses into the Fold 43

6 Developing the Sibling Partnership 55

7 Building the Business and Family Systems to Support the Sibling Partnership 67

8 Sticky Issues and Predictable Bumps in the Road 77

9 Laying the Foundation for the Cousin Generation to Follow 87

Conclusion: Enjoy the Journey and the Destination 91

References 95

The Authors 97

Index 99

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