CONTINUITY
FAMILY BUSINESS CONSULTING
US/CANADA: 877-925-5149 INTERNATIONAL: 1-978-925-5149
ContinuityFBC.com
The importance of governance, no matter how small the company,
cannot be overstated.
Formal boards, executive committees, and advisory boards
develop and articulate policy, objectives and strategy. They provide
strategic guidance and are the most effective vehicle for resolving businessrelated conflict between managers, owners and other family members.
Developing effective governance for a family business involves
appropriate procedure (attending to the right priorities, operating by the
right rules) and good structure (selection of the right people and roles).
Early stage family
businesses may be struggling to develop good governance practices and may be
wary of creating formal boards or engaging independent board members.
Helping these stakeholders understand and practice good governance as a first
step towards board development can be enormously helpful especially as part of
a succession planning process.
Creating a first board, while retaining control, is a big step
for many founders of family businesses and one which benefits greatly from
independent advice.
For more information on Governance and Board Development, visit
ContinuityFBC.com.
No comments:
Post a Comment