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Family Business | Outsourced Executives
Previous articles in this series have touched on a number of issues important to family businesses, including goal setting, culture and governance. Let’s now turn to another issue that can be critical to sustaining the legacy of a family business: whether and how to bring in outsiders to the board and to the executive ranks, especially in the role of CEO.
Family Business | succession plan
All organizations experience conflict, whether between board members, executives or management. As part of their formal governance processes or as a matter of their operating style and culture, well run companies establish formal processes to address conflicts.
Only ONE in TEN companies grow beyond “No Man's Land”. To improve your chances, you must first understand if your company is in No Man's Land. Learn more in this guide! Subscribe and get your copy now.
In the first article in this series, I discussed a number of characteristics that make family businesses distinctive. These attributes can impart significant competitive advantage to these companies but also produce some difficult challenges.
Family businesses have potential strengths that many non-family businesses lack. At their best, family bonds can be a powerful force to keep talented entrepreneurs, executives and employees dedicated to the long-term success of the business.
