Strategic Planning for the Family Business: Parallel Planning to Unite the Family and Business

Overview

From small start-ups to giant multinationals, from the Mom-and-Pop owned barber shop to Ford, family owned businesses continue to dominate the world economy. Regardless of size, running a successful family firm presents unique challenges, and many fail to survive the transition to the next generation. Here is a practical, comprehensive guide to ensuring success through effective strategic planning. The authors provide a wealth of tested, easy-to-follow tools and techniques for mastering strategic planning for ...

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Overview

From small start-ups to giant multinationals, from the Mom-and-Pop owned barber shop to Ford, family owned businesses continue to dominate the world economy. Regardless of size, running a successful family firm presents unique challenges, and many fail to survive the transition to the next generation. Here is a practical, comprehensive guide to ensuring success through effective strategic planning. The authors provide a wealth of tested, easy-to-follow tools and techniques for mastering strategic planning for family-owned firms. Filled with real world examples, case studies, checklists, and planning worksheets, the book shows how to deal with a host of emerging challenges--from new technologies and globalizing marketings--by integrating family values and dynamics into sound planning and management.

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Editorial Reviews

From the Publisher

“Of great use to family businesses that, rather than conforming to the corporate world, want to evolve, grow and pass from generation to generation without losing their family character.” —--Miguel A. Gallo, IESE, International Business School

“A very thoughtful and valuable book. It offers a superb kaleidoscope of the dynamics of the family business.” —--Manfred F. R. Kets de Vries, INSEAD, France and Singapore

“...a practical, comprehensive guide to help family-owned businesses survive the transition to the next generation.” —Ft. Worth Morning Star Telegram

Manfred F. R. Kets de Vries
A very thoughtful and valuable book. It offers a superb kaleidoscope of the dynamics of the family business.
Booknews
Finding that the separation between business and family issues within family businesses has been diminishing over the past decade, Carlock (family enterprise, U. of St. Thomas) and Ward (Kellogg Graduate School of Management, Northwestern U.) see the need for family business to involve as many family and non-family members as possible in the shaping and focus of the business. They introduce a model they call the "parallel planning process" (PPP) as a way to meet the challenges of today's family businesses. The model assumes that family and business systems are interdependent and proposes ways to integrate planning for both. ^ Annotation c. Book News, Inc., Portland, OR (booknews.com)
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Product Details

  • ISBN-13: 9780333947319
  • Publisher: Palgrave Macmillan
  • Publication date: 4/21/2001
  • Series: A Family Business Publication
  • Pages: 256
  • Sales rank: 543,909
  • Product dimensions: 6.33 (w) x 9.62 (h) x 0.86 (d)

Meet the Author

Randel S. Carlock holds the Opus Endowed Professorship in Family Enterprise at the University of St. Thomas in Minneapolis and leads the Owner-Director Program at INSEAD.

John L. Ward is one of the leading authorities on family business. He is Clinical Professor and Co-Director of Family Enterprises at the Kellogg Graduate School of Management, Northwestern University.

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Table of Contents

Part I: Understanding Family Business Planning
• The Importance of Planning for Business Families
• The Parallel Planning Process
Part II: Planning For The Family
• Securing Family Commitment
• Encouraging Family Participation
• Preparing the Next Generation of Family Managers and Leaders
• Developing Effective Ownership
Part III: Planning For The Business
• Assessing the Firm's Strategic Potential
• Exploring Possible Business Strategies
• Finalizing Strategy and Investment Decisions
• Part IV: Epilogue
• Best Practices: Who Thrives and Why

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Sort by: Showing 1 Customer Reviews
  • Anonymous

    Posted July 23, 2002

    Packed with Knowledge!

    Balancing the needs of a business and the family that controls it might seem like an overwhelming task, unless you tackle the challenge with a clear-headed plan. Randel S. Carlock and John L. Ward provide just such an approach by mapping out the strategies and structures needed to make a family business run smoothly. In so doing, they address family conflict, executive succession, ownership schemes and a host of other issues that can make or break a family business. We from getAbstract highly recommend this book too for its practical and applicable methods of striking a balance between the needs of business and the needs of family.

    2 out of 2 people found this review helpful.

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