Developing policies to guide decision making can help the family business avoid serious problems. The authors provide a step-by-step process for engaging family members in developing policies which cover issues such as: dealing with conflicts of interest; retirement timing; distribution of profits; loan programs; compensation and succession.
Table of Content
Introduction: A Wonderful Gift What Policy Making Can Do for Your Family and Your Business How to Develop Your Policies What Policies Do You Need? and When? Shareholder Agreements Other Policies to Consider One Policy, Two Ways A Word About Implementation Summary APPENDICES Appendix A: Family Business Policies to Consider Appendix B: Sample Conflict-of-Interest and Self-Dealing Policy Appendix C: Sample Philanthropy Policy Index
About the author
CRAIG E. ARONOFF Co-founder, Principal, and Chairman of the Board of The Family Business Consulting Group, Inc., the founder of the Cox Family Enterprise Center and current Professor Emeritus at Kennesaw State University, USA. He invented and implemented the membership-based, professional-service-provider sponsored Family Business Forum, which has served as a model of family business education for universities world-wide.
JOSEPH H. ASTRACHAN Principal in the Family Business Consulting Group, Inc., Wachovia Eminent Scholar Chair of Family Business, Professor of Learning and Professional Development, and Director of the Cox Family Enterprise Center at the Coles College of Business, Kennesaw State University, USA. In addition he is Distinguished Research Chair of Family Business at Loyola University Chicago’s Business School, USA.
JOHN L. WARD Co-founder of the Family Business Consulting Group Inc. He is Clinical Professor at the Kellogg School of Management, USA and teaches strategic management, business leadership and family enterprise continuity.
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