The Essence of Successful Family Business Strategy

Course Overview

Legacy families with existing core businesses have an extra dimension to consider in order to build a successful future for the overall family enterprise.

HEADING COMING SOON

The role and impact of a family business can play a defining role in a family’s culture and in the lives of its individual members. Some families even define family membership by having a shareholding in a family business.

Challenges in this area are twofold, for there is both a ‘pure business’ component and a family aspect to a family business. Both provide challenges and opportunities that need to be mastered if a business is to prosper over time and through different economic cycles.

As a result, we have separated this MasterClass Course into two parts: A first part focused on maximising the ‘family-ness’ benefits of the business – addressing ownership, leadership, governance and other issues – and a second part focused on the purely business elements of governance and strategy.

One area of increasing importance to family businesses is the area of Sustainability and Responsibility. Clients, end customers and regulators are all increasing demands for responsible business practices, ethically sourced products, and insisting on assurances regarding the entire supply chain from their suppliers – even beyond the part they actually control.

As the negative impact of climate change and social inequalities accelerates, diversity and equality issues become more visible, and as pressures on workplace safety and diversity rise, companies now face the need to manage, and report on, a series of both internal and external issues.

Increasingly, measurable performance in these areas is being required in order to comply with Global Reporting Initiatives and International Financial Reporting Standards.

Objectives

In this course, you will compare your family business approach- Ownership, Governance, Leadership and Strategy – to a checklist of common family business advantages and best practices. You will work through three defined phases of strategy development—diagnosis, design and implementation planning—to generate a business strategy tailored to your situation.

Learn to apply ‘best practice’ from the past, but also to surface and apply ‘next practice’ as well: the lessons and principles that will create success in a future world may be very different from those we see in front of us today.

Instructors

Mark Daniell, Prof. Liechtenstein, Jim Downing

Recommended Reading

COMING SOON.

Sample Course Video

COMING SOON.