Decision-Making Processes in Family Businesses in Latin America
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.
Unmasking Imagination and Creativity: An interview with Charlotte Dillon and Oliver Hallam
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.
The Exercise of Power in the Family Business
This week’s FFI Practitioner continues a series of articles written by members of the FFI IberoAmerican Virtual Study Group that are available in both English and Spanish. Thanks to Miguel Angel Gallo and Begoña Pereira-Otero for their examination of what constitutes an appropriate exercise of power by family business owners. We hope you enjoy this article in either (or both) languages!
Investor Relations Jiu Jitsu in Family-Owned Business
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.”
The Future of the Three-Circle Model: A conversation between Pramodita Sharma and John Davis
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.
Celebrating the 40th Anniversary of the Three-Circle Model: An interview with John Davis
To celebrate the 40th anniversary of the legendary Three-Circle Model, FFI Practitioner is excited to share two editions about the model during the month of June. For the first edition, we’d like to thank Pramodita Sharma for her interview about the inception and impact of the model on the field with one of its two creators, John Davis.
Debunking (again) the Dis-continuity Myth
Thanks to Sylvain Daudel of Stetson University for adding to several provocative FFI Practitioner articles on the topic of generational transition! He argues that the paradigm is wrong — it’s not about longevity but about value creation.
A Way to Prevent Catastrophic Family Quarrels
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.
Eight Strategies for Conflict Management in Family Meetings
Thanks to Marianna Martinez, a member of the FFI IberoAmercian Virtual Study Group, for this article entitled, “Eight Strategies for Conflict Management in Family Meetings.” You have your choice of reading in in English or in Spanish! More articles from this group will be forthcoming. We appreciate their taking the lead in helping us publish in two languages!
Trust Owned Family Enterprises: Pitfalls and practical suggestions when naming trustees who also serve on Board of Directors: A case study
This week, FFI Practitioner examines the complicated situation occurring when the family enterprise is owned in trust and the trustees simultaneously serve on the Board of Directors. Thank you to Patricia Annino for exploring the numerous issues and conflicts that can arise through the following case study.
The Consulting Process: The engagement letter
Thanks to this week’s contributor, Harvey Taraday of TCH Partners LLP for his comprehensive examination of an often utilized but seldom examined step of the consulting process, the engagement letter.
Congratulations to the FBR Best Article Award Recipients
We are pleased to announce that the award for the Best Article published in FBR in 2017 has been given to Daniel Holt and Kristen Madison from Mississippi State University and Franz Kellermanns from University of North Carolina at Charlotte, for their article “Variance in Family Members’ Assessments: The importance of dispersion modeling in family firm research.”
Research Applied: FBR Précis for FFI Practitioner
Among the unique characteristics differentiating family enterprises from their non-family counterparts is that family-owned businesses are much more driven by nonfinancial social and emotional motivators. In this week’s edition, Kim Schneider Malek explores the research that has been conducted on socioemotional wealth through her précis of “More Than Meets the Eye: A Review and Future Directions for the Social Psychology of Socioemotional Wealth,” an article appearing the March 2018 issue of FBR.
Lessons on Governance: Pruning the Tree or Inclusion
For family businesses, there is no one-size-fits-all approach to governance and advisers need to understand each family’s unique values and ownership philosophies before attempting to implement specific governance structures. Thanks to Marta Widz and Benoît Leleux from IMD for illustrating this point by sharing two cases where the family businesses have divergent ownership philosophies but have both excelled in their governance practices.
Family Business Longevity – A Flawed Quest?
Is the pursuit of longevity by family businesses a flawed goal? Almost every practitioner would strongly answer ‘no!” However, for this week’s edition, Asher Noor has decided to adopt the contrarian position in this provocative and Shakespearean inspired piece. Let the play begin!
Advisers for the New Generation: The connector, collaborator, and the co-investor
Thanks to this week’s contributors, Annie Koh and Esther Kong of Singapore Management University for providing a new perspective on how family business advisers can create trust and forge sustainable partnerships with the next generation. Their suggestion? The adviser should play the role of a Connector, Collaborator, and even a Co-Investor.
Announcing the 2018 FFI Global Conference Program
The 2018 Conference Program Committee is pleased to announce a wide-variety of educational sessions for this year’s conference in London.
Increasing Open Innovation in Family Firms
Family firms, like all modern businesses, must depend on growing levels of innovation in order to survive in an increasingly competitive global marketplace. This week, Diogo Cotta and Niklas Rossbach from Maastricht University discuss some alarming trends concerning innovation in family businesses and introduce a research project they’re conducting to learn more about how family businesses approach innovation opportunities.
Research Applied: FBR Précis for FFI Practitioner
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.
Perceived Self-Interest in the Family Business: An interview with Kirsten Taylor-Martin
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!