Case Study - Family Business

Restoring Stability in a Multi-Family Business with a Vision for the Next Generation

Founder Generation Group founded in the 1970s with listed companies in Specialized Manufacturing Businesses with both domestic and export markets:

  • Multiple Families.
  • Ambitious Business Culture.
  • Relatively new to non-family investors.
  • Promising Export Market.

Our Methodology

Research on industry demand and best practices

Strategy session facilitation

Periodic review check-ins

Key Deliverables

Current state assessment of the business

SWOT Analysis

Strategy session and Go-to-market plan for AI consulting services

Periodic performance reviews and ongoing business mentoring

Specific support on client acquisition initiatives, account management, financial forecasting, process improvement, IP creation initiatives, organization structuring, and executive hiring.

Challenges

With the emergence of the second generation and increase in the number of family members directly involved in the family business, the Family Business Group began to experience new inter-family issues that required attention.

Absence of clear Performance Goals and Accountability for Delivery of Performance, fuelled by multiple family members even of the Founders’ generation in poorly defined leadership positions.

Educated younger generation with high-sounding designations allotted through nepotism without enforceable targets and accountable responsibility.

The chaos and confusion reached almost a point of hopelessness with the Founders ready to break up and move on to further chaos of financial losses and disputes, court cases, litigation, etc.

Value delivered to the Client

Establishing a stable, working, participative Family Council meeting once a month

Eliminating nepotism

Defining individual roles with accountability, emphasizing performance with continuous growth

Ensuring transparency in communication and action among all ‘Family Managers’ across the hierarchy, through the Family Council.

Attracting qualified, result-oriented non-family managers into the Family Business.

Focus on achieving continuous profitable growth through ‘professionalism’ in the management of family-owned businesses.

Developing a capable and committed next generation with a vision that aligns and multiplies the vision of the previous generation as an important legacy a family business must have.

Instilled cross-generational commitment to sustained performance and growth, with a vision to prepare the foundation for the third generation.

Transform Your Vision into
Lasting Success with PROMAG

Contact Us
Back to Case Studies
Scroll to Top