Synopses & Reviews
From small start-ups to giant multinationals, from the Mom-and-Pop owned barber shop to Ford, family owned businesses continue to dominate the world economy. Regardless of size, running a successful family firm presents unique challenges, and many fail to survive the transition to the next generation. Here is a practical, comprehensive guide to ensuring success through effective strategic planning. The authors provide a wealth of tested, easy-to-follow tools and techniques for mastering strategic planning for family-owned firms. Filled with real world examples, case studies, checklists, and planning worksheets, the book shows how to deal with a host of emerging challenges--from new technologies and globalizing marketings--by integrating family values and dynamics into sound planning and management.
Review
“Of great use to family businesses that, rather than conforming to the corporate world, want to evolve, grow and pass from generation to generation without losing their family character.” —--Miguel A. Gallo, IESE, International Business School
“A very thoughtful and valuable book. It offers a superb kaleidoscope of the dynamics of the family business.” —--Manfred F. R. Kets de Vries, INSEAD, France and Singapore
“...a practical, comprehensive guide to help family-owned businesses survive the transition to the next generation.” —Ft. Worth Morning Star Telegram
Synopsis
Family business planning has traditionally centered on two issues - estate planning and succession. These goals are far too limited for today's family firm. Business families want to turn the business into not only a tool for profit, but for self-expression, innovation and legacy. The authors introduce the new concept of the Parallel Planning Process, explaining how to integrate the needs and expectations of the family and business systems in order to create an organic and entrepreneurial unit. Planning and decision making templates are included as well as studies of well-known family businesses.
Synopsis
From small start-ups to giant multinationals, from the Mom-and-Pop owned barber shop to Ford, family owned businesses continue to dominate the world economy. Regardless of size, running a successful family firm presents unique challenges, and many fail to survive the transition to the next generation. Here is a practical, comprehensive guide to ensuring success through effective strategic planning. The authors provide a wealth of tested, easy-to-follow tools and techniques for mastering strategic planning for family-owned firms. Filled with real world examples, case studies, checklists, and planning worksheets, the book shows how to deal with a host of emerging challenges--from new technologies and globalizing marketings--by integrating family values and dynamics into sound planning and management.
Description
Includes bibliographical references (p. 259-263) and index.
About the Author
Randel S. Carlock holds the Opus Endowed Professorship in Family Enterprise at the University of St. Thomas in Minneapolis and leads the Owner-Director Program at INSEAD.
John L. Ward is one of the leading authorities on family business. He is Clinical Professor and Co-Director of Family Enterprises at the Kellogg Graduate School of Management, Northwestern University.
Table of Contents
Part I: Understanding Family Business Planning * The Importance of Planning for Business Families * The Parallel Planning Process *
Part II: Planning For The Family * Securing Family Commitment * Encouraging Family Participation * Preparing the Next Generation of Family Managers and Leaders * Developing Effective Ownership *
Part III: Planning For The Business * Assessing the Firm's Strategic Potential * Exploring Possible Business Strategies * Finalizing Strategy and Investment Decisions * Part IV: Epilogue * Best Practices: Who Thrives and Why