Family Governance Tools for Family Business

Family Governance Tools for Family Business

Business Families are significant contributors to the world’s economy. Developing and improving the Family governance of a family business contributes to improved performance and increasing the odds of survival through generations.

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About the Event

Business Families are significant contributors to the world’s economy. Developing and improving the family governance of a family business contributes to improved performance and access to finance while increasing the odds of survival through generations. The alignment of different interests leads to consensus harmony inside the family as well as the enterprise. The implementation of an effective governance structure, regulating rights and obligations, avoids misunderstandings and favours the  alignment of interests.

Who should attend :

• Family members being groomed for next generation of family business leadership.

• Members of family councils or family foundations.

• Family members who hold shares in family businesses stakeholders in the transition process.

• Designed specifically for family business owners, relatives and directors.

Programme Objectives:

• Delve into the fundamentals of family governance, including the parameters of governance methodology for family owned companies, the structure, functioning and developing family governance structures and policies such as a family council and a family constitution.

• Provide insights into leading practices that enable family businesses to professionalize the business and prepare for succession.

• Empower the next generation to be more active in ensuring the growth and sustainability of the family businesses.

The advantages of good family governance:

• It increases awareness of the links between the family and the business.

• It clearly differentiates issues that concern specifically the management and the owners.

• It provides new opportunities for more effective communication within the family.

• It ensures better basic and advanced training for family owners.

• It documents and addresses the expectations of individual family members.

• It ensures that every family member understands their role within, and their responsibilities toward, the business.

• It sets a reference point for future generations.

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