By Craig E. Aronoff, Ph.D. and John L. Ward, Ph.D.
Effective governance empowers leaders of the business and the family to make the most of the unique strength of a family business: the synergy between a strong, unified owning family and a well-run family enterprise. In Family Business Governance: Maximizing Family and Business Potential you'll learn:
how effective governance can have a positive impact on your family and your business;
how to set up productive governance structures;
how to overcome objections to establishing governance processes;
how to determine primary responsibilities of the board, the family, and management;
how to recruit and use your board;
how outside directors can help strengthen your business and insure its continuity;
how to set family policies and procedures that govern key areas of family concern;
how to earn 'voice' in the family and in the business and much more...
While every family business is unique, embracing systematic governance processes can help any family business achieve goals shared by virtually all.
"Aronoff and Ward have done it again. Family Business Governance: Maximizing Family and Business Potential meets the high standards previously established by the Family Business Leadership Series. For any business owning family who wants to improve how the family and its business are governed, this is a must. Not only do the authors list the questions that must be answered by the family, the Board and top management of the firm if they are to establish the best governance practices, their vast experience allows them to wax normative and to point out the pitfalls to be avoided."
Professor Alden G. Lank
President, Family Business Network
Stephan Schmidheiny Professor of Family Enterprises Emeritus, IMD
and President, Lank Family Business Associates LLC, Hingham, MA
"Initially, our directors were all family members, and we used Family Business Governance: Maximizing Family and Business Potential as a guide to professionalizing our board. It helped us structure our outside board of directors.?
Whitaker Oil Company