A majority of issues that need to be addressed and resolved in Family Business relate to the following and more
Leadership, Trust, Values, Commitment, Ethics, Structure, Effectiveness, Continuity, and Succession.
“A good ‘Succession Plan’ will re-structure the enterprise to harness the leadership skills and potential of competent members of the family, and therefore help create new growth opportunities that will further enhance opportunities for progress of other family members, and of the family enterprise group.”*
Must necessarily be separate in structure and practice.
Conflict and Confusion on Role Definition and Acceptance can lead to Lack of Leadership and Accountability, Poor Decision-making, Performance Issues, Conflict….that could lead to Business Decline and Stagnation.
(Within the ‘Family’) Vision and Foresight, Merit First, Performance Focus, Clarity on Goals, Execution….
“Family Constitution, in whatever nomenclature, evolves, and functions effectively only when the key members of a Family Business have a strong desire to be together in the long term.” *
Growth through Professionalism, through Performance, through Innovation, through Good People, and through Expansion is the Key to Unity, Optimism, Foresight, and Perpetuation. Opposite of Growth is Stagnation and Stagnation destroys all that is good.