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| The Family Constitution: Agreements to Secure and Perpetuate Your Family and Your Business |
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by Daniela Montemerlo, Ph.D. and John L. Ward, Ph.D.
The
two most effective practices implemented to protect and preserve the family
business are '1) to build an independent board to strengthen the business and 2)
to draft a Family Agreement to strengthen the family.' This book is about the
latter: The Family Agreement.
The authors, Daniela Montemerlo and
John Ward discuss the three main reasons why a business-owning family would
create a Family Agreement. Family Agreements foster the company?s successful
development, maintain ownership unity and commitment and reinforce family
strength as a family.
Drs. Montemerlo and Ward outline how Family
Agreements provide the vision that strengthens the resolve and devotion of
ownership. They discuss the types of Family Agreements and how each type
reflects certain assumptions about the business and the family.
The
Family Constitution: Agreements to Secure and Perpetuate Your Family and Your
Business 'provides a comprehensive framework for understanding the subject
and a thoughtful approach how on to execute it well.' In its pages you?ll learn:
the fundamental components of a family agreement;
the differences between an owner's contract, family business protocol,
family statement and family constitution;
the purpose of family agreements;
what comprises each section of a family agreement;
why the family's values and beliefs are important to the process;
why the process is as or more important than the content;
how to understand whether your agreement will succeed or fail;
the timing and the process for reviewing and amending the document;
and much more.
The Family Constitution: Agreements to Secure and
Perpetuate Your Family and Your Business is designed to be useful to those
families who are starting down the path toward a Family Agreement, for those who
are trying to decide whether to begin or not and for those families who already
have a Family Agreement and feel it is time to reassess it. This book will also
help those families who have tried to write a Family Agreement in the past but
for whatever reason have not finished the work.
The Family
Constitution: Agreements to Secure and Perpetuate Your Family and Your
Business is fast reading with real life examples, practical tips and 25
useful exhibits.
'The authors address a most critical and delicate topic in a concrete and
thought-provoking way, without imposing pre-defined solutions. It is clear that
the book is a result of practical experience. Anyone concerned about their
family business should read it, even if they have not yet planned a family
constitution, to reflect upon the future.
Michele Alessi
Anghini
CEO
Alessi Spa
Italy
'The concept of a 'Family Constitution' is a powerful one. Not just for the
?family? but also for the non-family executives. Daniela Montemerlo and John
Ward?s book provides both a comprehensive framework for understanding the
subject and also a very thoughtful approach on how to execute it well. It will
be of value to those about to develop or revisit a family agreement or
constitution. I totally subscribe to their premise that it's the 'going through
the process' rather than 'striving for the perfect document' which is the
outcome where real value for both business and family is realized.'
John
Varley
Non-family CEO
The Clinton Devon Estates
Devon
'The authors have combined their theoretical preparation with their wide
practical experience, giving us a new, very actual vision on family
constitutions' formulations and on their effect over time.'
Gioacchino
Attanzio
CEO
AIdAF, Italian Association of Family Firms
Italy
'The book provides an insight to a structured way of creating a family
constitution which addresses all possible issues. Personally, we as a family
would not have been able to make such a robust constitution for our business
without the help of this book.'
Rohit George
A.V. George Group of
Companies
India
ISBN: 1-891652-15-X
Copyright,
2005 |
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