In most businesses, the Board Chair’s role is seen as relatively straightforward: to ensure the Board and its governance committees function properly. However, in family enterprises, this role is far more complex, with responsibilities that go significantly beyond these traditional expectations.
In light of the many crises that haunt the daily news cycle, there is one segment of the corporate landscape that seems to be weathering the storm better than most: family businesses.
In principle, everyone in a family business, from shareholders and board members to executives and employees, has a right to their own politics.
Chris Robichaud and Devin DeCiantis talk about how simulations can support continuity.
The creation of a Family Council is one way to restore balance between business and family life.
Business, ownership and family issues are intertwined in a way that is going to get very complicated.
Many family businesses have a problem with recruitment into governance roles, and the family labor pool is a critical issue.
A very small part of the academic research on governance has taken into account family ownership and the special nature of family firm governance.
Only if they deliver services that provide comprehensive solutions.
Whether they like it or not, outside directors on a family board often confront and must deal with succession issues.
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