Advisory Framework
Advising family businesses is a complex and multi-layered process, demanding a deep commitment from all stakeholders. As the driving force behind this journey, the family business advisor plays a pivotal role. The framework we employ for cohesion and sustainability in family businesses unfolds in three essential phases:
Phase 1: Family Business Assessment
In this initial stage, our team conducts confidential interviews with key stakeholders in both management and ownership positions. The goal is to unearth current thought processes and identify existing issues and challenges. We assess the working capacity of family members and explore the dynamics of their working relationships. Additionally, we delve into the coherence of vision, mission, and values across various facets of the business and family.
Phase 2: Family Business Governance Workshop
Building upon the insights gained from the assessment, we launch an interactive workshop on governance. This workshop serves as a catalyst for crucial conversations about individual roles and the collective future of the business family. It initiates a dialogue among various family members regarding the structure of the business and decision-making processes. Key concepts of business structures, such as the board of directors, board committees, induction, and succession, are introduced. This workshop delves into specific areas, including:
Board of Directors: Understanding the effective utilization of the board of directors.
Directorship: Identifying the skills and qualities required for effective directors.
Family Constitution and Family Council: Clarifying the roles of the family constitution and family council in the family business.
Phase 3: Action Plan Development and Implementation
Together with key stakeholders, we identify targeted strategies to address challenges and leverage opportunities unique to the family business. Our aim is to empower the family with a practical, actionable plan that not only addresses immediate concerns but also sets the groundwork for sustained growth and resilience across generations. Through ongoing collaboration and refinement, we ensure the action plan remains dynamic and responsive to the evolving needs and aspirations of the family business.
