Family Governance
Adopt and implement the best practices of thriving multi-generational family businesses to make effective decisions in both family and business for success.
Building a legacy for your family business through robust governance
The process of family governance focuses on strengthening communication, building clarity around decision making and developing family members to ensure success in multi generation family business. The key elements of creating strong structure for governance are:
Creation & facilitation of Family Business Board
Creation & facilitation of Family Council
Documentation of Family Constitution
Strengthening capabilities of family members to ensure consistency and growth of family business.
A global research on family business says
96% of family businesses break within 3 generations
"The family-owned business is a very complex entity and therefore it needs a bit more thinking and training. More than 80 per cent of issues in family-owned business are actually identical around the world. The solutions, however, are unique to each family. "
Mr. Sunil Kant Munjal, Chairman,
Hero Enterprises (Hero Motocorp)
"Almost all family companies, at some stage of their continuation, face a quiet, not-so-spoken conflict, as the next generation with new aspirations come of age and challenges older constructs -- constructs that have fared well thus far."
Mr Harsh Mariwala, Chairman,
Marico Limited (Parachute Oil Company)
Challenges of Family Business
As the family business grows into multiple generations with numerous members actively involved, maintaining transparency, effective communication, and sound decision-making becomes a challenge. This challenge can create cracks in the family bond and unity.
How to build Family Bond & Harmony?
How to ensure Business Growth and Longevity?
How to Plan the Succession of a Family Business to the Next Generation?
Designing and Implementing Family Business Structure and Governance
The process of creating Family Business Structure & Governance begins with a 6-month exercise and follows a 7-step methodology created by our experience and insights from best practices globally. Engaging with all family members, we help family businesses identify & design:
Core Values & Purpose of Family Business
Creation of Governance Structure
Creation of Family Constitution
Creation of Business Constitution
The process is customised for every family based on their specific needs and objectives.
Outcomes
Clear Communication
Faster
Decision Making
Stronger Alignment, Enhanced Relationship
& Improved Family Harmony
Unlocking Growth &
Seizing Business Opportunities
Capability Building
Developing Leadership
& Values of Success
