Recent surveys have unveiled a resounding consensus among family business leaders: the imperative to explore untapped territories ranks among the top priorities for strategic evolution.
Josh Baron, author of the Harvard Business Review Family Business Handbook, and co-founder of BanyanGlobal, presents family business governance using the Four Room Model.
Revenues, profits, a strong balance sheet: measuring success is important to all businesses. But, are there other important measurements in a family-owned business? Find out what the key metrics are for successful, generational family businesses.
For family businesses, legacy can mean the succession of business and family assets from one generation to the next. In fact, Merriam-Webster defines “legacy” as: a gift by will, especially of money or other personal property, and/or something transmitted by or received from an ancestor or predecessor or from the past.
Whether you are a leader of a company, a parent, or both, here are some suggestions on how to preserve the legacy you are helping to create for the next generation.
Michael Dierberg, Chairman of the Board at FB Corporation (First Bank), offers insight into the importance of engaging and connecting with other like-minded family business owners for support and collaboration.