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communication

Strictly professional

July 1, 2005

It makes sense to formalise employment contracts, both for employees and employer in family companies. Employment agreements encourage healthy communication, prevent resentments from building up and avoid disputes arising later on, advises Jeffrey Wolfson

Jeffrey Wolfson is a family business attorney at Goulston & Storrs and is chairman emeritus of the Northeastern University Center for Family Business. www.jwolfson@goulstonstorrs.com

Strategy makes a difference

May 1, 2005

Every family in business needs to have a good governance structure. Johan Lambrecht describes the best way to achieve success and stability by looking closely, with some examples, at how you can rethink your strategy and mission statements for top results

Johan Lambrecht is professor at the European University College Brussels (EHSAL). He is director of the Research Centre for Entrepreneurship at EHSAL
and the Catholic University, Brussels

How a formal family agreement can benefit your business

September 1, 2004

A family agreement can be a powerful tool for any business owning family. It can secure and perpetuate an enterprise but it should be a distinct reflection of a family’s culture and experience, argue Daniela Montemerlo and John Ward

Daniela Montemerlo is a professor at Bocconi University. John Ward is Wild Group Professor of Family Business at IMD in Switzerland and Professor of Family Enterprises at Kellogg School of Management.

A family agreement can be a powerful tool for any business owning family. It can secure and perpetuate an enterprise but it should be a distinct reflection of a family's culture and experience, argue Daniela Montemerlo and John Ward

Succession planning isn’t the answer

September 1, 2004

Ignoring the strategic landscape of the business itself, family firms can focus too heavily on leadership transition because of emotional reasons, says Andrew Keyt. Has succession overshadowed the harder long-term business goals?

Andrew Keyt is president of the US chapter of the FBN and executive director of the Chicago Family Business Center.

The family council: goals, roles and holes

January 1, 2004

A family council is common in a large, sophisticated family-run firm. But they can be tricky to implement and, like families, each is unique and evolves in its own way

John L Ward is the Co-Director of the Center for Family Enterprises at Kellogg School of Management (USA) and the Wild Group Professor of Family Business at IMD (Switzerland). He serves on the boards of four family companies in Europe and the USA.

A family council is common in a large, sophisticated family-run firm. But they can be tricky to implement and, like families, each is unique and evolves in its own way

It’s good to talk

January 1, 2004

Acting quickly to repair short-circuits in a family’s communication process can save a great deal of hardship down the line

Dennis T Jaffe is Professor at Saybrook Graduate School in San Francisco, author of Working With The Ones You Love and a founding member of the Aspen Family Business Group.

Acting quickly to repair short-circuits in a family's communication process can save a great deal of hardship down the line

How to achieve the most value from your lawyer

November 1, 2003

Clearly communicating your needs and expectations to your lawyer means you receive better advice and, usually, better value. Eight simple rules will help you redefine your relationship to achieve more valuable advice

Henry Krasnow is a lawyer with over 35 years of experience who specialises in the problems of family businesses. He is the founding partner of the law firm Krasnow Saunders Cornblath, LLP and is based in Chicago, Illinois.

Best practices of successful multi-generational families

November 1, 2003

A recent survey suggests that successful multi-generational families are just as concerned with the quality of their relationships with other family members as they are with financial measures – good governance can help the next generation build on these relationships

Dennis T Jaffe is Professor at Saybrook Graduate School in San Francisco, author of Working With The Ones You Love and a founding member of the Aspen Family Business Group. Amy Braden is Managing Director and heads the Family Wealth Center of JP Morgan Private Bank.

The Pritzker problem

September 1, 2003

The Pritzker family dispute illustrates how important it is for all members of a family business to feel respected and valued irrespective of their roles within the family. Had clear family policies been established – and discussed – at the point of succession, perhaps this bitter legal battle could have been avoided

Dennis T Jaffe, PhD is professor at Saybrook Graduate School in San Francisco, author of Working With The Ones You Love and a founding member of the Aspen Family Business Group.

Creating effective management teams

April 1, 2003

Family executive teams can be a great way for families to manifest their values and sustain a powerful company. But creating a balanced and well-functioning team demands continual monitoring and attention

Dennis T Jaffe, PhD is professor at Saybrook Graduate School in San Francisco, author of Working With The Ones You Love, and a founding member of the Aspen Family Business Group.