Should family members have position descriptions
When you first see the title of this article you might think “what has this got to do with family business?” or “isn’t this a low level thing to discuss?” or “it’s my business and I don’t need one of these things!” or “great for employees but not needed for…
Is it really a sense of entitlement or something else?
Far too often we hear about family members having a “sense of entitlement” regards employment within and ownership of the family business. While I am not suggesting for one minute that a “sense of entitlement” paradigm or attitude is not possessed by some family members, I am suggesting that it…
Succession is renewal not death
Succession planning is a segment of Family Business Inter-generational Continuity offering the family business the opportunity to Refresh, Revitalize and Renew while maintaining family harmony. Family business makes up well over 65% of the Australian economy and controls in excess of $5 trillion in wealth. This figure holds true for…
Stages of transition within the family business
The conventional model of “family succession” is for an “anointed family heir” to take over the business and the assets to be transferred either via an Estate Planning structure or under favourable taxation regimes. While this is a method that can work it has far too many people” issues attached…