SAT 25TH NOV 2017

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Bringing the family business community together

Discussion

Governance & The Family Business

Is the family constitution an essential part of family business governance?

Featured "Yes"

Barbara Hauser gives reasons for YES

The family business itself will have governance bodies (board of directors, for example) and policies--but when the owners are also family members, th...

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Featured "No"

Chloe Elms seems to think differently. No no no!

The value of a family constitution primarily lies in the creation process – this process can be effective in opening up communication so that th...

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Discussions Responses

Ian Marsh - NO

At least not in the sense of a formal written document creating legislative, executive and judicial bodies and regulating the separation/interaction o...

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Penny Webb - YES

The word “CONSTITUTION” conjures up images of complex and lengthy documents related to the sustainability of family business legacies.&nbs...

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Ken McCracken - YES

Every family in fact has a "constitution" in the form of expectations, understandings and assumptions about many things; like why the family are in bu...

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Martin Stepek - YES

As ever we can debate the relative merits of the term, but whether it is a 'constitution,' 'rule book' or 'guide' families do need clarity on key topi...

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Tamar Milo - YES

A family constitution is essential for ensuring that governance is based on the participation of the family at large.   It is the process of cre...

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Chloe Elms - NO

The value of a family constitution primarily lies in the creation process – this process can be effective in opening up communication so that th...

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Wayne Rivers - UNDECIDED

If the family firm is large enough and there are enough family members to warrant one, yes. For small firms or ones worried about day to day survival...

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Andre Diederichs - YES

The focus on governance is growing exponentially globally. The family constitution is a very practical tool to ensure governance and more specifically...

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Barbara Hauser - YES

The family business itself will have governance bodies (board of directors, for example) and policies--but when the owners are also family members, th...

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Andrew Drake - NO

It is going too far to say that it is essential for all  family businesses, but it can be  a particularly important tool where one or more o...

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