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Managing The Family Business

The management and structure of a family business can be different to that of a non-family business. What are some of the secrets to successfully managing a family business?
Total 54 articles in this section.
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Leadership Development - Key to Family Business Longevity

By Dr. Denise Federer

According to the Family Business Institute, the success rate for family businesses is astonishingly low; only 30 percent survive into the second generation, 12 percent remain viable into a third, and a paltry 3 percent operate into the fourth generation and beyond. Why are so few family businesses able to succeed over the long term? A lack of leadership development is a point to consider.

20 Tips To Winning Family Business

by Darren Bourke

Family businesses seem to bring out the best and the worst in us. So what winning ways set apart the successful family businesses from the dysfunctional? Successful family businesses are perceptive and understand their strengths and weaknesses. They set up processes and use techniques to protect themselves and their family members from struggling and falling out. They surround themselves with intelligent and trusted non-family members both working internally and externally of the business.

Use Of External Advisers In Family Business

by MGI Boyd

64.4% of family business owners report the use of outside advisors on a regular basis.

Family Business Management Planning

by MGI Boyd

The descriptive breakdowns in Table 12.1 below suggest that management planning is not a priority for a significant percentage of Australian businesses.

Family Business Governance: Management

by MGI Boyd

Management by generation of ownership.

Family Business Governance: Board Of Directors

by MGI Boyd

Board composition in family businesses.

Family Business Sources Of Capital

by MGI Boyd

Sources of funding are governed by pecking order principles as indicated in Table 9.1 below.

Family Business Growth

by MGI Boyd

Close to one third of owners state that they are NOT satisfied either with the rates of growth, or the current size, of their businesses.

Employees In Family Business

by MGI Boyd

The median number of equivalent full-time employees in family businesses is 15 (17 for non-family businesses) employees.

Definition Of Family Business

by MGI Boyd

For most people, family business tends to be regarded as small business. In fact, examination of some of Australia's ASX listed companies indicates high levels of family control.

How To Create Effective Governance In A Family Controlled Enterprise - Council Of Advisors

by Richard L. Narva and Beth G. Silver

This article suggests that one fundamental tool available to family firms is effective corporate governance and, in particular, offers specific advice about how to create a non-fiduciary council of advisors for a family controlled enterprise (FCE).

How To Create Effective Governance In A Family Controlled Enterprise - Advisory Council Meetings

by Richard L. Narva and Beth G. Silver

Now that you have chosen your advisory council members, this article details how to prepare and run the meetings.

Why A Family Controlled Enterprise Should Have Effective Corporate Governance

by Richard L. Narva

The primary usefulness of governance to a family controlled enterprise, is as an enduring place and process for owner managers (insiders) to meet and work with non-management owners (outsiders), non-owner managers (professional management) and voices of loyalty, reason and commitment to the enterprise's long term success (directors independent of management).

Tax Traps For Family Business

by Peter Bembrick

A number of tax traps arise in family businesses. They are not only the concerns of the owners, to ensure their remuneration is tax effective. Tax traps also arise when there there is pressure to restructure to meet changing expectations of family members, or demands for greater distribution of the business’s wealth.

Managing The Family Business

by Grant Thornton

Owning and managing your own family business can be a lonely job. So many things to do, so many great opportunities, so little time, such limited resources, so many people, so many problems. Where is it all leading? How can I get perspective? How long do I keep going? How do I get out of here? Can I afford to retire? These 12 factors are tools to manage some or all of the problems regularly encountered in family business.

Total 54 articles in this section.
Pages: [1] . 2 . 3 . 4 Next
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