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succession planning Tag

In this week’s FFI Practitioner, members of FFI’s Asian Circle Virtual Study Group, Kimberly Go and FFI Fellow Paul Chung, explore the complex choices facing next gen family members about whether to join the family business and the role of family business advisors in helping the family navigate these decisions.

Thanks to Vijay Sathe, Alfredo Enrione, Donna Finley for this week’s edition, which is a case study about how five sisters, who suddenly and unexpectedly inherited their father’s businesses, and how they dealt with the influence of two executors to reach harmonious ownership of the family enterprise.

Thanks to this week’s contributor, Andrea Calabrò, for summarizing the findings of the STEP 2019 Global Family Business Survey, which was introduced in the January 8 FFI Practitioner edition about applied research in the field.

Family business cases can serve as powerful tools to integrate into consulting and educational work with clients. Cases provide an engaging way for family enterprise members to recognize issues similar to the ones they face, helping evaluate potential, less emotionally-charged solutions. To further this publication’s mission to provide readers with practical materials that support their work with multi-generational family enterprises, we are pleased to feature a selection of family business cases previously published in FFI Practitioner.

Thanks to Gaia Marchisio for this week’s article which discusses the importance of recognizing and addressing strong beliefs about “universal truths” and misconceptions in the field of family enterprise. In this article, Gaia urges advisers to avoid becoming too narrow-minded and entrenched in an established way of thinking. Instead, she encourages advisers to maintain an outsider’s perspective on conventional family business truths that are often taken for granted.

As an adviser, what can you do when the owner/CEO who hires you is wrong? According to Bruce Walton in this week’s edition, an objective board of directors can serve as a valuable ally to confront a misguided CEO and to get the company moving in the right direction. To illustrate his point, Bruce shares some anecdotes of how a board can help in these tricky situations.