Article No.

BIBLIOGRAPHY
Jaffe, Dennis T. Working With The Ones Your Love Conari Press

TOPIC: FAMILY BUSINESS

10 Important Points
1. Family council is the organizational and strategic planning

2.

3. 4. 5.

arm of a family. Many issues that seem like pure business matters can be resolved only by the family. For example; Investing in a new plant, promoting a non family manager to CEO, or selling or splitting the business all have an impact on the family. By establishing a council, a family recognizes that very few issues get resolved by ignoring them. In todays councils, participation, openness, information sharing, debate and democracy are needed for it to be productive A family council provides a means for deciding the businesss role in society

10 Important Points
6. A family council provides a means for deciding the 7. 8. 9. 10. 11.

businesss role in society The council is the focal point for developing and implementing: individual, family and business plans. Start with a planning group. Most families have found it useful to have an outside person, such as a family business consultant, as a facilitator. These meetings should not be focused on information sharing. They should keep presentations short and encourage discussion. By the end of the retreat documents like: family history, values credo and mission statement will be developed and made available to everyone.

Other Points
The best way to start a family council is away from home at a retreat lasting few days. It should be a participatory gathering. It should be fun to ensure interest and attendance. The planners draw up objectives and gather information from other family members. Each family member over a certain age should participate. By the third meeting, the family take on the role of the facilitator. Everyone receives a copy of agenda at the retreat.

Other Points
Sharing the history is a powerful and important

start to a family. The essential task of the familys self examination at a retreat is to explore its values. A mission statement sets forth the purpose of the family and the business. When a council gets to be meaningful attendance is assured

Thank You!

Article No. 2

BIBLIOGRAPHY
Lesser, Susan D. (2010). Managing family dynamics in family council meetings. Family business.

TOPIC: FAMILY BUSINESS

10 Important Points
1. Family dynamics must be considered during 2. 3. 4.

5.

each phase of the councils creation. Like any team, a council goes through predictable stages of development. During the forming stage family dynamics are at their most varied. In a family council, storming is the most pivotal stage because if it is not negotiated properly the family could remain here permanently. Family dynamics change at this stage.

10 Important Points
6. During norming the family council begins to resemble

well oiled machine. 7. The key to family dynamics during this phase is to build on the trust. 8. The councils objectives are clear, processes are functioning and results are achieved during the performing stage. 9. The greatest challenge, from a family dynamics perspectives is dealing with change. 10. Overcoming family dynamics requires effort and commitment on the part of all concerned.

Forming
The council begins meetings, discovering and

refining the reason for its existence and working to articulate its goals as well as exploring opportunities and challenges. In the beginning the fear of conflict is so great that individuals remain on their best behavior. Those who have strong differences of opinion often choose to hold their thoughts inside rather than disturb family harmony. Nothing impactful is being decided at this stage.

Storming
Most pivotal stage because if not negotiated properly

family could remain here permanently. Termed storming because of the stormy behaviors exhibited when team members seek to align their individual perspectives. At this time family members are determining which issues they will tackle as a council. Family dynamics change. The stakes are higher so council members can no longer afford to hold their tongues. Family employment issue may arise during the storming stage. Effective storming involves setting and respecting rules.

Norming
No one wishes to upset the rhythm as everything is

proceeding so smoothly. Getting along becomes more valued than getting it done. Trust has been earned through shared experiences during the forming and storming stage. During the norming stage, family members begin to feel a sense of accomplishment. The key to controlling family dynamics is to build on the trust that has been created.

Performing
At this point family council has achieved success. By identifying individual strengths and weaknesses,

the team is able to function as a unit. Family council is fully integrated. Objectives are clear, processes are functioning and results are achieved. Dealing with change is the greatest family dynamic change.

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