Author Bios

Articles by this author:

  • The Enterprising Family addresses many of the most critical challenges to family continuity. Though it may take more than a generation of time to develop, it is a vision for all families to keep in mind as they develop their future plans and policies

  • There is no single governance system. The key to effective governance depends on the adaptability of the roles of the owner, board and senior management, and its alignment with the stategic environment of the business

  • In family-owned businesses, ownership is uniquely important and influential to the system of governance, where its values and vision are crucial elements in the financial success of the company

  • Imbedded values tend to lead the strategy selection process of family businesses. John Ward explains that if the family’s core beliefs are not compatible with the chosen strategy, the chances of success are much lower

  • The best strategies in family companies are sound for both their business and their ownership. When boards successfully link these two realms, family businesses can often leverage significant strategic advantages over other companies

  • Family businesses have special traits that allow them to follow different, unconventional business strategies to those pursued by non-family firms – the advantages of trust within the business, ownership commitment and a longer term view all contribute to their strategic success

  • 2001 IMD award winners, the Murugappa Group, have drawn upon their business acumen, heritage and faith in the family system to help them successfully adapt to change

  • Considerations for building a strategy for a family business are different to those of a non-family business. Melding the demands of the market with the values of emotionally connected owners creates superior business performance

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