Tag Archives: accountability

Three ingredients to multi-generational firm success

Over the last twenty-plus years of working with and observing multi-generational family businesses, three attributes common to the oldest, largest and best performing ones seem to present themselves repeatedly.  First – the family shareholders are aligned around matters of vision, … Continue reading

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Holding Yourself Accountable is Key to Credibility

Accountability is a loaded idea in our culture and even more so in a family business – where notions of professional accountability and family ‘loyalty’ sometimes clash.  We want folks to be accountable for their choices, actions and results, but … Continue reading

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Accountability: “Evaluate to improve, not to prove.”

A young next generation executive working for the family business her father founded recently told me that lack of accountability among family members in the business was hampering the successful transition of the company to the next generation. Unfortunately her … Continue reading

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Another Invited Accountability Example

Steve McClure In a previous post, I defined invited accountability in the context of operating and non-operating shareholders.  Another opportunity for family members to invite accountability is in the situation where a founder passes control to a lead successor with … Continue reading

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Invited Accountability

Business families with “accountability issues” often describe them in two ways.  The shareholders who do not work in the business, whether actual shareholders or family members in line to inherit, will see it one way: My relative running the company … Continue reading

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Patriarch’s New Year’s Resolution

Lack of accountability is often a major cause of succession challenges within family businesses.  Why not make the establishment of effective accountability the top priority on your New Year’s resolution list? In cases where transitions are running into trouble, lack … Continue reading

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