Strategic Planning for The Family Business

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.

Autorentext

RANDEL S. CARLOCK is the first Berghmans Lhoist Chaired Professor in Entrepreneurial Leadership at INSEAD and the Opus Endowed Professor of Family Enterprise at the University of St. Thomas in Minneapolis. He has over 20 years of executive and CEO experience and has completed postgraduate certification in family and marriage therapy.

JOHN L. WARD is the Wild Group Professor of Family Business at IMD, Clinical Professor and Director of the Kellogg School Center of Family Enterprises, Northwestern University and founder of the Family Business Consulting Group International. He is recognized as one of the world's leading authorities on the family business.

Inhalt

PART 1: UNDERSTANDING FAMILY BUSINESS PLANNING The Importance of Planning for Business Families The Parallel Planning Process PART 2: PLANNING FOR THE FAMILY Securing Family Commitment Encouraging Family Participation Preparing the Next Generation of Family Managers and Leaders Developing Effective Ownership PART 3: PLANNING FOR THE BUSINESS Assessing the Firm's Strategic Potential Exploring Possible Business Strategies Finalizing Strategy and Investment Decisions PART 4: INTEGRATING THE FAMILY AND BUSINESS PLANS The role of the board in family business planning