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Governance

January 1, 2004

The field of family business studies has begun to address the need for new approaches to preparing the next generation of qualified leaders and capable owners.

Elizabeth Florent-Treacy is research project manager, INSEAD Initiative for Family Enterprise, Fontainebleau France and Singapore. (The contribution of Michael Carlander and the Next Generation Working Group is gratefully acknowledged.)

January 1, 2004

What can the members of business-owning families learn from Agincourt, from a contemporary Paris orchestra, from the sometimes bewildering world of parenting adolescents and from a septuagenarian’s scholarly wisdom based on more than half a century spent working with and studying leaders and leadership?

Barbara Murray is executive director of the Family Business Network.

January 1, 2004

The recent meltdown of companies such as Enron, WorldCom, and Global Crossing, generated worldwide media attention on the need to improve corporate governance.

Compiled by Joseph Astrachan (Loyola University Chicago and Kennesaw State University), Andrew Keyt (Loyola University Chicago), Suzanne Lane (Loyola University Chicago), and Kristi McMillan (Kennesaw State University).

January 1, 2004

The wellbeing of owner-managed and family businesses is central to the strength of the European economy as a whole.

The wellbeing of owner-managed and family businesses is central to the strength of the European economy as a whole. These firms account for more than 70% of employment in the EU and make a major contribution to economic output in all member countries. They provide a continuing source of entrepreneurial energy within the existing EU and are sure to play a key role in evolution of the economies of the new member states.

January 1, 2004

When their 45-year old father, Frank, founded his tool and die business he had hoped only for enough business to be able to provide for himself, his wife and their two boys, Roger and Alex.

When their 45-year old father, Frank, founded his tool and die business he had hoped only for enough business to be able to provide for himself, his wife and their two boys, Roger and Alex. Roger, the eldest, began working with his dad first and his high energy and natural sales skills helped grow the business beyond its humble entrepreneurial roots. As the spitting image of his father, Roger believed that he was the only choice to succeed his father, the founder, as the rightful leader of the company.

November 1, 2003

There are fundamental differences in the assumptions and practices of family and non-family firms. While non-family firms can learn much from the ‘family business paradigm’, family firms need to be careful not to ignore the perspectives of efficient markets, asset leverage, strategic revolution, and economically driven personal leadership

John L Ward is the Co-Director of the Center for Family Enterprises at Kellogg Graduate School of Management (USA) and the Wild Group Professor of Family Business at IMD (Switzerland). He serves on the boards of four family companies in Europe and the USA.

November 1, 2003

Clearly communicating your needs and expectations to your lawyer means you receive better advice and, usually, better value. Eight simple rules will help you redefine your relationship to achieve more valuable advice

Henry Krasnow is a lawyer with over 35 years of experience who specialises in the problems of family businesses. He is the founding partner of the law firm Krasnow Saunders Cornblath, LLP and is based in Chicago, Illinois.

Clearly communicating your needs and expectations to your lawyer means you receive better advice and, usually, better value. Eight simple rules will help you redefine your relationship to achieve more valuable advice

November 1, 2003

A recent survey suggests that successful multi-generational families are just as concerned with the quality of their relationships with other family members as they are with financial measures – good governance can help the next generation build on these relationships

Dennis T Jaffe is Professor at Saybrook Graduate School in San Francisco, author of Working With The Ones You Love and a founding member of the Aspen Family Business Group. Amy Braden is Managing Director and heads the Family Wealth Center of JP Morgan Private Bank.

A recent survey suggests that successful multi-generational families are just as concerned with the quality of their relationships with other family members as they are with financial measures – good governance can help the next generation build on these relationships

November 1, 2003

An increasing number of employers are looking at flexible benefits to improve recruitment and retention levels. Is it time your family business became more flexible?

Shawn Healy is a Senior Tax Manager with The BDO Centre for Family Business, formerly the Stoy Centre for Family Business, which was set up in 1992 dedicated to serving the needs and raising the profile of UK family businesses.

An increasing number of employers are looking at flexible benefits to improve recruitment and retention levels. Is it time your family business became more flexible?

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