THU 30TH MAR 2017

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Bringing the family business community together

The Family Business Agenda

The team at Family Business United are seeking to identify The Global Family Business Agenda.  We have compiled a list of the challenges identified by family business owners the world over and now want to see what are the biggest concerns for the sector.

 

What keeps family business owners awake at night?  Are there differences around the world and does age have an impact on the results. We are going to compile an extensive summary of the feelings of the family business community around the world and will share them with you in due course.

 

We truly appreciate your time in completing this questionnaire and helping us to determine The Family Business Agenda. 

COMMUNICATION - To what extent are the following a challenge for the family business?

  Not at All Concern Issue Major Issue Significant Issue
 
Managing communication with family members
Sharing the family values and beliefs
Developing a marketing and communications plan
Getting the family together to formally discuss the business

EMPLOYMENT - To what extent are the following a challenge for the family business?

  Not at All Concern Issue Major Issue Significant Issue
 
Developing the right roles and responsibilities in the business
Creating a fair remuneration policy
Creating rules for the entry of family members into the family business
Developing an appraisal process for the fair assessment of performance of family members
Making difficult decisions about roles for family members
Firing an under-performing family member
Recruiting and then retaining and motivating non-family executives

FUNDING - To what extent are the following a challenge for the family business?

  Not at All Concern Issue Major Issue Significant Issue
 
Financing the retirement of the older generation
Extracting wealth from the family firm
Gaining access to the finance required to build the business

GOVERNANCE - To what extent are the following a challenge for the family business?

  Not at All Concern Issue Major Issue Significant Issue
 
Developing an effective family governance system
Protecting the name and reputational risk of the family and the firm
Developing a family constitution
Creating a mechanism for effective communication between the family and the business

LEGACY - To what extent are the following a challenge for the family business?

  Not at All Concern Issue Major Issue Significant Issue
 
Creating a family legacy
Creating a family business legacy
Developing a philanthropy strategy

MANAGEMENT - To what extent are the following a challenge for the family business?

  Not at All Concern Issue Major Issue Significant Issue
 
Balancing the needs of the family with those of the business
Maintaining a profitable family firm
Protecting the family business assets
Harnessing the family values into the brand
Developing a social media strategy
Identifying non-executive directors to strengthen the Board
Developing effective tax planning

NEXT GENERATION - To what extent are the following a challenge for the family business?

  Not at All Concern Issue Major Issue Significant Issue
 
Ensuring the right decisions are made for future generations
Educating the next generation on responsible ownership
Creating custodians and stewards for future generations
Providing the necessary support and development for the next generation to develop within the business
Transferring wealth to the next generation
Making decisions that involve selecting one child over another

OWNERSHIP - To what extent are the following a challenge for the family business?

  Not at All Concern Issue Major Issue Significant Issue
 
Managing a growing shareholder base
Agreeing an appropriate dividend policy
The impact of divorce on future business ownership
Agreeing a method for valuing the business
Creating an internal market for the sale of shares
Creating a framework for the exit of family members from the business
Determining the future ownership of the business
Considering the sale of the family firm

RELATIONSHIPS - To what extent are the following a challenge for the family business?

  Not at All Concern Issue Major Issue Significant Issue
 
Keeping family relationships harmonious
Trying to be fair to everyone
Dealing with sibling rivalry
Creating a mechanism to deal with disputes
Finding personal space away from the day-to-day business
Managing the involvement and impact of spouses/partners on the business

SUCCESSION - To what extent are the following a challenge for the family business?

  Not at All Concern Issue Major Issue Significant Issue
 
Selecting a family member to take the helm as the next leader of the family firm
Selecting a non-family member to be the next leader of the family business
Developing the next family business leader
Creating an ownership succession plan
Making the succession decision
The willingness and ability of the current leader to step down from the helm
Creating a process for handing over the reigns

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