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Monthly Archives: August 2011
Adjusting ‘On The Fly’ For Unexpected Situations
Earlier this week, I shared some thoughts on creating a flexible system to deal with the unexpected situations that naturally occur in family business transitions. While planning is very important to ensure successful transitions, the best plans will inevitably need … Continue reading
Posted in Family Business Policies
Tagged decision making, flexibility, flexible, pendergast, transition
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Creating Flexible Systems for Family Business Transitions
As my kids start the year at a new school after moving our family to a new city this summer, I find myself reflecting on transitions. Family businesses are full of transitions – ownership transitions, leadership transitions and family transitions. … Continue reading
Posted in Uncategorized
Tagged flexibility, flexible, leadership, ownership, pendergast, transition
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No Reason for Gratuitous Criticism of Family Business
This from the most recent Bloomberg Business Week: “Last year revenue at the company grew 12 percent, to a record $9.7 billion, and while the Great Recession slowed rivals Neiman Marcus and Saks, Nordstrom gained market share. Nordstrom, it seems, … Continue reading
Posted in Uncategorized
Tagged Aronoff, Bloomberg, Enterprise, Hunstman, Marriott, Neiman Marcus, Nordstrom, Saks, Smucker's
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Falling in love at work
What rules, if any, should address what happens if you and / or other members of your family who own stock in the family business fall in love with an employee? We’ve seen cases where that employee becomes an in-law … Continue reading
Posted in Family Business Policies
Tagged council, divorce, love, mendoza, policies, rules
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Stock Market Convulsions – Lessons for Families
Last week was a great lesson in the consequences of emotional reactivity to business information. Monday’s news was gloomy – business conditions had eroded from earlier projections and the debt deal wasn’t enough. The Dow was in a free fall … Continue reading
Should family members not working in the business ever be owners?
Recently at a seminar a well-respected advisor proclaimed that any succession plan that allows stock to pass to those not working in the business is a bad succession plan. For anyone who has experienced family dissension or destruction over conflict … Continue reading
Posted in Ownership & Shareholders
Tagged conflict, Eckrich, liquidity, ownership, patient capital, Succession
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Coaching the Next Generation
Below are a few of the questions that were posed during our Coaching the Next Generation webinar. If you missed the webinar you are still in luck. The replay of this program is available at http://eventcallregistration.com/reg/index.jsp?cid=600t11pk Question 1: How would … Continue reading
Are Family Perks Ever In Order?
When the economy tanked in 2008, many business owning families trimmed employee pay and benefits, and reduced perks available to family members working in the business. While many have recovered with improved economic conditions, we see families struggle to balance … Continue reading
Family Business Lessons Learned from the Debt Ceiling Debates
While speaking about contentious politics is fraught with risks, it seems that family businesses can learn a thing or two from the experience of the past month’s debt ceiling debate, so I am daring to enter into that fray in … Continue reading
Five Reasons People Don’t Perform
Perhaps the most difficult job I had as a manager was to complete timely and constructive employee evaluations. As I struggled with the process, it struck me that there were five primary reasons people did not perform satisfactorily in any … Continue reading
Posted in Career Development
Tagged Employee Evaluations, evaluation, performance, schwarz, standards
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