The Family Council Handbook: How to Create, Run, and Maintain a Successful Family Business Council

Overview

Just as a Board of Directors is a governance structure for shareholders, a Family Council oversees a family on everything from educating the family for their future responsibilities as owners to settling disputes within the family. Using the common term family council to refer to family governance, the book will be a practical manual for all business families seeking structure to manage how their family ...

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The Family Council Handbook: How to Create, Run, and Maintain a Successful Family Business Council

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Overview

Just as a Board of Directors is a governance structure for shareholders, a Family Council oversees a family on everything from educating the family for their future responsibilities as owners to settling disputes within the family. Using the common term family council to refer to family governance, the book will be a practical manual for all business families seeking structure to manage how their family governs itself and relates to their business.
 
The book will answer several basic questions:
1. What are the forms of structured family governance?
2. What purpose is served, and disasters avoided, by using structure like a family council?
3. How does one select the form of family council that is appropriate for the size, age and complexity of the business family?
4. How are family councils established and maintained, and how do they evolve?

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Product Details

  • ISBN-13: 9780230112193
  • Publisher: Palgrave Macmillan
  • Publication date: 6/19/2012
  • Series: A Family Business Publication Series
  • Pages: 390
  • Sales rank: 525,810
  • Product dimensions: 6.00 (w) x 9.30 (h) x 1.10 (d)

Meet the Author

Christopher J. Eckrich, PhD is a principal of The Family Business Consulting Group, Inc. and specializes in building leadership excellence and maintaining family unity in family owned businesses. He is also adjunct professor at The University of Notre Dame, where he teaches family enterprise to both undergraduates and graduate students. He also served as a founding advisor to The Family Business Center at the University of St. Francis, a university-based education Center for family business owners and their families, where he led the Next Generation Leaders group.

Stephen L. McClure, PhD is a principal at The Family Business Consulting Group, Inc. and specializes in family communications and decision making, succession planning and implementation, and governance & management in family firms. He has taught business planning and family business management and governance to retail networks of international manufacturers, clients of law practices, international trade groups, business advisors, and to the members and owners of family businesses, both domestically and internationally. As an innovator in providing unique services to private businesses, his articles on consulting methods appear in three volumes of collected works. Dr. McClure has worked with family businesses for over 25 years.

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Table of Contents

List of Figures xi

Preface xv

Acknowledgments xvii

1 Family Organization and Governance for Sustaining the Family Business: A Field Manual 1

2 Reasons for Starting or Resisting a Family Council 9

3 Stages of Family Businesses and Types of Family Councils 19

4 How to Start and Organize a Family Council 37

5 Running the Family Council 77

6 Committees of the Family Council 127

7 The Family Assembly and the Family Association 151

8 Special Family Governance Structures: Owners Councils and Executive Committees 207

9 Family Leadership 219

10 Using a Professional Facilitator 245

11 Transitions in the Family Council 261

12 Connecting the Family Council with the Board and the Business 277

13 Family Communications 303

14 The Journey Forward 319

Appendix 1 Definitions 323

Appendix 2 Family Council Charter Example 329

Appendix 3 Family Council Assessment Form 333

Appendix 4 Decision Making on Family Business Matters 339

Appendix 5 Examples of Shared Expectations 347

Appendix 6 Family Advisor Candidate Rating Form 349

Notes 353

Index 357

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