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Family & Business Interface

Thoughts and ideas on the appropriate interfaces between the family and the company and/or how the family organizes for governing itself in addition to its interface with the governance structure of the company.

Thanks to Marta Widz and Sameh Abadir from IMD for this article based on the Jebsen & Jessen Family Enterprise story, which illustrates how responsible leadership and early awareness can coalesce to pioneer safety, environmental sustainability, and stewardship strategies and thus lead to impactful social innovation.

This week, we are pleased to share a case study that demonstrates how effective corporate and family governance can help clarify decision-making protocols in family enterprises. Thanks to Roberto Vainrub for sharing this case with practical implications for advisors.

n this week’s issue, contributor Matthew Erskine discusses estate planning measures that can be taken to prepare for the eventuality of a beneficiary’s substance abuse issues.

With the current emphasis in the field on professionalizing family business governance, this week’s contributor, Ken McCracken, explores a different approach to governance based on what the family may already be doing successfully.

Thanks to Mitzi Perdue for this case study discussing some of the perils involved in misunderstanding core concepts underlying the frequently invoked “chain of command.” It is an instructive article for advisors and a case that could be shared with clients.

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.

This week’s FFI Practitioner continues our series of articles written in both English and Spanish by members of the FFI IberoAmercian Virtual Study Group. Thank you to Ricardo Mejia for sharing this case study about a client who encountered an important governance dilemma – should they focus on developing their corporate governance or family governance first?

The decision-making process within a family business can be one of the most complex issues confronting consultants when working with a client. This week, we’re fortunate to share an article from Luis Medina, where he examines these complex processes within the context of Latin American family businesses.

In this week’s FFI Practitioner, Bruce Walton of Battalia Winston addresses the question of how Investor Relations differ in family-owned businesses. His conclusions, based on interviews with accomplished governance leaders, fall into three common themes – communicate, educate, and “mechanate.”

In this week’s FFI Practitioner, we are pleased to share a compelling précis of “Nonfamily Members in Family Firms: A Review and Future Research Agenda” – an article that appears in the March 2018 issue of FBR. Thanks to Guido Corbetta of the FBR Research Applied Board for sharing an insightful review of the research’s key findings as well as discussing its practical implications for advisers in the field.

For this week’s FFI Practitioner, we are excited to share an interview with Kirsten Taylor-Martin about a major piece of research recently conducted by Grant Thornton. The interview, which includes useful tips and insights for advisers working with next gen family members, was actually conducted by a next gen member of Kirsten’s family - her daughter, Angelina Martin!

Thanks to Alberto Gimeno of the FBR Research Applied Board for his thoughtful précis of “Family Constitution and Business Performance: Moderating Factors” – an article that appears in the December 2017 issue of FBR.

When family businesses recruit outside executives, “A-level” candidates expect best practices within company governance and the search process.

(Authors: Antonio J. Revilla, Ana Perez-Luno, and Maria Jesus Nieto) Research Applied précis prepared by Kim Schneider Malek, Family Enterprise Alliance, LLC Family firms aim to survive, thrive, and outperform the competition.

Business is all about the future. An entrepreneur takes an idea and makes it into a service or product that people will want, even need, for years to come.

The authors of this study were interested in the effect of institutional transformation on family firm performance.

In this issue of The Practitioner, Kirby Rosplock from The Practitioner Editorial Committee interviews Barbara Hauser on the topic of family governance as it relates to the 2016 conference of theme of Adapt | Evolve | Transform.

If you know what will happen, it is easier to be prepared. If you don’t know, then you’ll have to adapt to whatever happens.

If it’s true that family businesses are influenced by a variety of myths, how does this impact our ability to ensure that our clients can thrive in a competitive global landscape?

Myth: The consulting focus should be on the entire family system only. Reality: Focusing on the individual earlier in the consulting process may help bring needed change.