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. ...
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
The authors have over 50 year work experience in family business.. .from their business research at top universities, to their global consulting practice.
STEPHANIE BRUN DE PONTET is Senior Consultant of the Family Business Consulting Group, Inc., specializing 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, USA. 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.
Table of Contents
Why Should Siblings Journey Together
Why this Transition is So Hard - The Role of Complexity
Challenges and Opportunities Facing the Siblings
Setting the Stage - The Role of the Founding Generation
Managing the Outside Risk - Effectively On-boarding Sibling Spouses
Developing the Sibling Partnership
Building the Business and Family Systems to Support the Sibling Partnership
Sticky Issues and Predictable Bumps in the Road
Laying the Foundation for the Cousin Generation to Follow
Conclusion: Enjoy the Journey and the Destination