By Craig E. Aronoff, Ph.D. and John L. Ward, Ph.D.
The success, growth and well-being of a family business depends on its ability to attract, motivate, develop and retain outstanding executives who are not family members. More Than Family: Non-Family Executives in the Family Business aids family business executives, both inside and outside of the family, to work together more effectively to achieve the goals of the business and its owners. It contains profound insights into the effect on non-family executives of such crucial issues as succession, compensation, ownership, relations between executives and the owning family, and much more.
Reading this book will help both family members and non-family executives to better understand each other, providing the basis for building more effective top management teams. An 'Open Letter to the Non-family Executive' delineates the key issues that executive candidates should consider when joining a family firm. In this booklet you'll learn:
how to attract and retain the best non-family executives for your family business;
how to make non-family executives part of the family business team;
how to deal with questions of ownership for key non-family executives;
how to build relationships between non-family managers and family shareholders, and with next generation business leadership;
how non-family executives can help to facilitate the succession process;
how to employ a non-family CEO with maximum effectiveness;
how to provide compensation and incentives for non-family executive
and much more...
In addition to the authors' extensive family business consulting experience, the collected expertise of 20 top family business experts representing all the relevant professional advisory fields shows you how to develop outstanding relationships that will strengthen and enrich your business and your family.
'Having recently gone through the process of identifying, hiring and orienting non-family executives for our family business, I found the concepts and strategies in More Than Family: Non-Family Executives in the Family Business to be extremely relevant and helpful. The process of bringing a non-family executive into a family business requires much forethought and planning. This book serves as a very informative resource guide for the issues associated with this process.'
Rick Fogelman, CEO