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Get perspectives on leadership roles, family dynamics and succession in owner-managed businesses.
There's no doubt about it.
Hopefully, because they can both support and undermine the owner family.
Quotas for women on boards are problematic. But not as problematic as the consequences of not implementing them.
When family businesses experience crisis and conflict, they are often reluctant to invite advisors in.
That's how I worried others would think of me when I became the head of the Norwegian branch of my family's company.
Hopefully, the answer is a resounding yes. Family businesses have a unique opportunity to execute long-term strategies that are 100 percent value-based.
It often takes many disciplines to run a successful business, so when a company needs advice, it's not surprising if the need includes input from several types of advisors.
It's a fact. Many family businesses have had serious internal strife within the owning family - and yet the business has survived.
This should be a premise when family businesses hire external managers to run and develop the company.
The answer may seem obvious. But then it's not so straightforward after all.
I don't.
No. Contracts are at least as important in family businesses as in other companies. A family member who is not contractually obligated to fulfill a well-defined role in the company can be difficult to manage.
"Why does she always have to steal the spotlight?" This question is nothing new. Even back when humans first began hunting aurochs, we worked in close-knit groups.
The question reflects a surprise I sometimes encounter in people who advise family businesses without knowing much about their specific characteristics.
This is important. You may be making financial progress in your business. Everything may seem to be running smoothly in your customer relationships. But even if you discussed your values a long time ago, there is no guarantee that they are still:
Does your company have a family business forum? Even before I became involved in the running of my family business, I wanted to know what was happening in the organization, both strategically and operationally.
Get help with clear agreements, better decisions, and a collaborative relationship that can withstand pressure.
An honest discussion about leadership, generational transition, and the difficult conversations that shape a company.