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Strategies for family firms, unlike those of other businesses, can and should incorporate family factors. Responsible and disciplined strategic integration of family and business goals, strengths and values produces powerful results.
Family business planning has traditionally centered on two issues - estate planning and succession. The authors introduce the new concept of the Parallel Planning Process, explaining how to integrate the needs and expectations of the family and business systems in order to create an organic and entrepreneurial unit.
Healthy growth is critical to the future of any business - too many rash decisions can lead to the demise of a family business. Author Jennifer Pendergast provides readers with practical knowledge to help determine whether to grow, what type of growth is healthy and sustainable and what the future potential is for any business.
Business is the language of numbers, but not everyone in businesses understands how to read the myriad of financial statements that are necessary. Author Norb Schwarz provides readers with accessible information to understanding financial statements such as annual reports, cash flow statements, income statements, balance sheets and so much more.
Through stories and interviews the authors explore the changing role women play in today's family business, looking at how to encourage and support women family members, to the challenges women face in finding the right balance between work and life, to the role spouses play in couples that work together.
A collection of personal family letters written from great entrepreneurs to their family members about business, success and life. In Sharing Wisdom, Building Values we learn directly through their own words.
Family education is a both a learning and team-building process. This book guides owners through the education process - from determining when to bring your family into the business, and how to train them, to what they could and should do outside the firm first - so they can bring outside experience into the family firm.
Here Aronoff and Ward show siblings and cousins how to work together on key issues that are critical to the future success of the business including how to attract the most capable family members into leadership roles, how to develop agreement among many owners and how to create a "cousin collaboration".
Identifying and developing leaders in a family business can be more difficult than traditional business. Here Aronoff and Baskin discuss the different styles of leadership and what style might work with what family member including the Directing Leader, the Coaching Leader, the Counseling Leader and the Delegating Leader.
Designed for families planning to draft a Family Agreement, families deciding whether or not to begin the process, and those that have already established a Family Agreement, this book illustrates the fundamental components and their importance to the success of the family business.
Letting Go helps family business owners and CEOs make the decision to begin succession planning. It provides new ways of thinking about giving up control of the family business and explores practical strategies for preparing, managing, and carrying out the decision to do so.
Eckrich and McClure provide a greater understanding of what a family business really is and how they differ from other companies and work environments. Designed to provide insight into the family and its behavior and to integrate the non-family employee into its unique structure.
Family businesses that expect to endure over a long period of time must learn to respond and adapt to a rapidly changing environment. The authors provide a new appreciation for the importance of change and the tools necessary to incorporate change as a company tradition.
Hiring and working with non-family managers can present challenges to the family business. However, it is essential to create an environment in which non-family managers can suceed for the good of the business and the good of the family. This book explores the processes of hiring, managing, and retaining talented outside executives.
It's so important that the generations to come understand and share in the founder's vision and philosophy. Authors Aronoff and Ward help leaders discover their own values and then they provide ways to infuse these values into the fabric of their business for generations to come.
Developing policies to guide decision making can help the family business avoid serious problems. The authors provide a step-by-step process for engaging family members in developing policies which cover issues such as: dealing with conflicts of interest; retirement timing; distribution of profits; loan programs; compensation and succession.
The authors explore how effective planning and communication helps business families around the world address growth challenges as they strive to become high performing multi-generation family enterprises. This book shows family businesses working together at their best.
Strong family governance can create an environment of smooth decision making, cohesiveness, effective conflict resolution and a directive that moves the business forward. Authors Aronoff and Ward show leaders why a strong governance is critical to taking families from one generation of success to the next.
This book establishes the principles and patterns necessary to laying the foundation for capital and liquidity planning. Through an in-depth examination of financial situations, it leads family businesses to making wise, well-timed choices about the future of the business and the family.
In How to Choose and Use Advisors , authors Aronoff and Ward establish benchmarks for excellent advisory services and they show business owners how to benefit from advice ranging from legal and financial to executive search and organizational development.
Compensation is one of the most discussed items in business. And in a family business it gets personal. Authors Aronoff, McLure and Ward answer the some of the most important questions when it comes to the family what is fair pay among family members? How do I determine appropriate pay for my child? What should I pay my shareholders?
Through an investigative look at familial interactions, the authors highlight normal conflicts, criticisms, and communications failures that are a part of the family experience as well as their effects on working relationships within the enterprise.
Helps to prepare for passing the family business on to the next generation. Leaders will learn how to create a succession plan; how to develop opportunities for succession candidates; how to build consensus with the family and leaders on succession plans and finally leaders will learn when and how to let go of their own role in the business.
The founders of the family business must impart their vision and leadership to succeeding generations. Preparing those generations for leadership is challenging and encompasses a lifetime. Aronoff and Ward's strategy for a smooth transition prepares successors for their role in the future of the firm.
Family Business Conflict Archetypes, Frames, Roles, and Tactics are discussed in this book with a view toward educating readers to the common conflict cycles that family businesses encounter. More specifically the book will address twelve conflicts that are common in family owned businesses, how to spot them and how to resolve them.
In celebration of IESE's 50 years of bridging the gap between theory and practice, this essential compilation brings together today's top researchers to tackle the real-life issues that family business owners face on a daily basis, shedding new light on the values that shape these special types of companies.
The family business has been the most prevalent and pervasive form of business in many countries and raises particular questions concerning succession and governance and in particular the relationships between management, board members and family members.
In this book he brings together a vast amount of experience to show the, 'best practices' of the most successful and long-lasting families in business. This is the most comprehensive book on sustaining the family business and contains international examples and cases and essential tools and checklists of best practice.
Regular meetings help build a strong family. And a strong family has a much better chance at long term success. In Family Meetings, authors Aronoff and Ward show that holding regular meetings is one of most important ways of ensuring less conflict and more collaboration.
Good planning is more than just thinking ahead; businesses need a strategic approach to ensuring their success. Keeping the Family Business Healthy provides readers with a guide to strategic thinking, including how to maintain growth, how to shape business direction, preparing for new leadership, and working with a large and diverse family base.
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