Commentary #6 on Professionalizing the Business Family: A research report sponsored by the FFI 2086 Society
This week, we conclude our series of commentaries about the report sponsored by the FFI 2086 Society titled, “Professionalizing the Business Family: The Five Pillars of Competent, Committed and Sustainable Ownership.”
How can family advisors help their clients when they are so enmeshed in conflict that they seem to have erected impenetrable barriers? According to this week’s contributors, Mitzi Perdue and Amy Castoro, advisors can utilize three communication techniques to break down these barriers and address the underlying causes of the conflict. Mitzi and Amy have illustrated these techniques with an instructive case study that can be shared with clients.
One of the primary goals of FFI Practitioner is to provide readers with thought-provoking and practical articles to improve the services they offer to their family enterprise clients and the field in general. To further this mission, this week, we are pleased to feature a selection of articles addressing common topics, across disciplines, that can be used as examples or conversation starters with clients.
The month-long FFI Practitioner series dedicated to the theme of “Reflections” continues this week with a very special interview with Dennis Jaffe, author of the recent working paper titled, “Resilience of 100-Year Family Enterprises: How Opportunistic Innovation, Business Discipline, and a Culture of Stewardship Guide the Journey Across Generations.” In this interview, hosted by Russ Haworth, Dennis reflects on some of the key takeaways from his study of nearly one hundred successful family enterprises.
How can advisers utilize the creative process and even mask-making to help family businesses address and resolve conflict? For this week’s edition, we are thrilled to share an interview between Russ Haworth, host of the Family Business Podcast, and Charlotte Dillon and Oliver Hallam about their presentation at the upcoming FFI Global Conference. Their presentation is titled “Unmasking Imagination and Creativity” and will be a mask-making workshop to explore how creativity can mediate family business solutions.
When an unexpected disaster strikes, and family members are unaware of a patriarch or matriarch’s end-of-life care wishes, then decisions about how to proceed can create deep-seated and long-lasting conflict that can destroy a family business. This week’s contributors, Mitzi Perdue and Jane Beddall share insights from their experiences and advice about how to address this sensitive subject with your clients.
How Does Knowledge Sharing among Advisors from Different Disciplines Affect the Quality of the Services Provided to the Family Business Client?
Today we have new twist on an old topic — multidisciplinary advising! For more than 25 years the Practitioner has lobbied for this approach. Many family enterprises globally have agreed.
Karen Vinton’s Executive Summaries recap two articles from the June 2013 issue of FBR. In Is Nepotism Good or Bad? Types of Nepotism and Implications for Knowledge Management the authors look at two categories of nepotism, reciprocal and entitlement.
Karen Vinton’s Executive Summaries recap two articles from the March 2013 issue of FBR. In Should My Spouse Be My Partner?
These summaries of each article, as well as the articles themselves, serve as tip sheets for the practitioner facing challenges in an engagement. Please don’t forget to share these summaries with friends and colleagues.
The Practitioner brings you Executive Summaries from FBR Assistant Editor Karen Vinton, covering a range of topics that are true north on a practitioner’s professional compass.