As the family enterprise profession evolves, authors offer empircal insights and examples for colleagues to use in their practices; examples of tools and assessments are included.
Have the contributions that lawyers can make to family governance discussion been undervalued? So says this week’s contributor, Henry Krasnow, in a thought-provoking piece exploring how family business consultants can collaborate more productively with the company’s attorney.
In this week’s FFI Practitioner, Eva Wathén examines the importance of culture within family enterprises and explores some of the differences between the cultures of family-owned and nonfamily-owned enterprises.
How do the personalities differ between family and nonfamily CEOs and what impact could this difference have on the performance of family businesses? In this week’s edition, Kim Schneider Malek reexamines the popular argument about family and nonfamily CEOs through her précis of “CEO Personality: A Different Perspective on the Nonfamily Versus Family CEO Debate,” an article appearing the March 2019 issue of FBR.
This week’s FFI Practitioner focuses on buy-sell agreements and their role in protecting family enterprise from potential future ownership issues. Thanks to Dan Frosh, this week’s author, for providing an examination of the numerous benefits and features of effective buy-sell agreements within the family enterprise context.
Welcome to the first issue of the 2019 FFI Practitioner. What better way to look forward than to talk with one of the founders of the family enterprise field? We hope you enjoy this interview with David Bork, a legend in the field and, 50 years later, still a pioneer.
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.
Thanks to Chris Casey for sharing his thoughts on what success means in family firms and some of the difficulties he encountered as he worked on his dissertation “Defining success in family firms using configurational fit: A quantitative study of family-owned construction firms” from Capella University.
This week’s FFI Practitioner addresses an often overlooked, but critical phase of the consulting process – contracting. Thank you to Judi Cunningham and Wendy Sage-Hayward for sharing this article that highlights the importance of contracting as an ongoing process, rather than a one-time discussion, and describes two levels of contracting that appear within an engagement.
When family business owners are evaluating non-family ownership succession options, often their advisers may suggest two primary options; selling the business to a “strategic buyer” or a “financial buyer.” However, this week’s edition presents an alternative option – selling the business to the employees, a “friendly buyer,” through an ESOP. Thank you to this week’s contributor, Dan Bayston, for sharing his analysis of ESOPs and the role they can play in a non-family ownership succession plan.
Thank you to this week’s contributor, Tom Hubler, for reflecting on his more than thirty-five years as a family business consultant and sharing some valuable insights he’s gained during that time. We hope you enjoy reading about Tom’s experience and learning about what he refers to as the “soul” of family businesses.
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.
For this week’s edition, we are excited to share an interview between Russ Haworth, host of the Family Business Podcast, and Kim Eddleston and Roland Kidwell about their presentation at the upcoming FFI Global Conference. Their presentation is titled “The Diversity of Deviance: How breaking the rules can hurt (and help) families and family firms,” which will address the different types and outcomes of deviance as well as covering how to use deviance in the family and family firm to improve performance.
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.
The month-long FFI Practitioner series of pieces relating to the theme of “Reflections” continues this week with an article by the co-chair of FFI Practitioner editorial committee, Jamie Weiner. In this article, Jamie reflects on his own experience growing up with a father who was a “giant” in his community and explores the importance of creating rites of passage for next gen family business members to create their own identity and find their voice when succeeding a parent who is a “giant.”
Thank you to Patricia Angus of the FFI Practitioner editorial committee for kicking off a month-long series of editions relating to the theme of “Reflections.” In this week’s edition, Patricia reflects on the complexities of defining some key terminology in the field. In upcoming weeks, we’re excited to continue this reflective theme with pieces by Jamie Weiner, Ken Moores, Paul Chung and Chin Chin Koh, and an interview with Dennis Jaffe. We hope you enjoy the series!
How can learning the skills required by an actor make you a more effective adviser with your clients? Listen to this week’s interview with Mark Bagnall, a skilled stage performer and “artist-in-residence” for the 2018 FFI Global Conference to learn more about how you can utilize these skills to become a better adviser. Thank you to Russ Haworth, host of the Family Business Podcast, for interviewing Mark and giving us a sneak peek of what to expect from Mark’s sessions in October.
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.
This week’s FFI Practitioner concludes our two-part series commemorating the 40th anniversary of the influential Three-Circle Model. Thank you to FFI Fellows Pramodita Sharma and John Davis for sharing their insightful conversation about future the future of the model, research, and the field.