A thorough explanation of how family enterprises work The family enterprise, whether an operating business, a family office, or both, is the backbone of the US and international economies. These enterprises cut across industries and geographies and can be first-generation entrepreneurial companies or multi-generational businesses with family offices. This book offers a foundation in and understanding of how family enterprises work, including working definitions and the key characteristics of family enterprises, as well as useful concepts for working with and in family enterprises, either as…mehr
A thorough explanation of how family enterprises work
The family enterprise, whether an operating business, a family office, or both, is the backbone of the US and international economies. These enterprises cut across industries and geographies and can be first-generation entrepreneurial companies or multi-generational businesses with family offices. This book offers a foundation in and understanding of how family enterprises work, including working definitions and the key characteristics of family enterprises, as well as useful concepts for working with and in family enterprises, either as a professional or as a family member. Written by the experts at the Family Firm Institute, a global network of professionals, educators, researchers, and owners of family enterprises An ideal resource for professionals in law, finance, management, and behavioral science, family office and fund managers, and others interested in an multidisciplinary approach to this field
For over a quarter century, The Family Firm Institute, Inc. (FFI) has been engaged in educating, connecting, and inspiring professionals who serve family enterprises. FFI is the leading association worldwide for family enterprise professionals and the organization of choice for the advisors, consultants, educators, and researchers who help perpetuate transgenerational family business wealth. In adopting a multidisciplinary and genuinely global perspective, FFI understands family enterprise as a fundamental driver of global economic growth, prosperity, and stability. For its global network of professionals, educators, researchers, and family business owners, FFI provides opportunities to participate in multidisciplinary educational programs and earn professional designation; enables collaboration at conferences, seminars, and online; and creates a single space for interaction, cross-pollination of ideas, expertise, and perspectives to further the field of family enterprise.
Inhaltsangabe
Acknowledgments ix Family Enterprise: Understanding Families in Business and Families of Wealth xi Chapter 1 Defining Family Enterprise 1 Definition 1 2 Definition 2 2 Definition 3 2 Definition 4 2 Definition 5 2 Family Business Review article: "From Longevity of Firms to Transgenerational Entrepreneurship of Families: Introducing Family Entrepreneurial Orientation" 4 Assessment Test 1 37 Chapter 2 Classic Systems of a Family Enterprise 39 The Family System 40 The Ownership System 41 The Enterprise System 42 Assessment Test 2 43 Chapter 3 Representative Governance Systems in Family Enterprises 45 Enterprise Governance 46 Family Governance: Family Council 48 Owner Governance: Ownership Forum 49 Assessment Test 3 50 Chapter 4 Key Characteristics of Family Enterprises 53 Characteristics 53 Challenges 54 Comparison of Family Systems and Enterprise Systems 55 Assessment Test 4 57 Chapter 5 Concepts in Family Enterprise Study 59 Systems Thinking: A Very Brief History 59 Systems Thinking: The Individual in the System 60 Relevant Systems Concepts: Triangles, Scapegoat(ing), Homeostasis, Boundaries 61 Content and Process 63 Family Business Review article: "Using the Process/Content Framework: Guidelines for the Content Expert" 65 Assessment Test 5 77 Chapter 6 Theoretical Frameworks in Family Enterprises 81 The Three-Circle Model 83 The Developmental Model 87 The Balance Point Model 88 Assessment Test 6 89 Chapter 7 Core Professions Working With Family Enterprises 93 Differing Perceptual Filters 95 Understand the Differences Among the Core Professions 96 Assessment Test 7 99 Chapter 8 Multidisciplinary Professional Teams 101 Types of Teams 101 Challenges Teams Face 102 Family Business Review article: "The Effects of Goal Orientation and Client Feedback on the Adaptive Behaviors of Family Enterprise Advisors" 103 Assessment Test 8 138 Chapter 9 Applying What You Have Learned 141 Case 1 141 Case 2 142 Case 3 142 Glossary 145 Suggested Readings From Family Business Review: Journal of the Family Firm Institute 153 About the Website 155 About The Family Firm Institute, Inc. 157 About the Authors 159 Index 161
Acknowledgments ix Family Enterprise: Understanding Families in Business and Families of Wealth xi Chapter 1 Defining Family Enterprise 1 Definition 1 2 Definition 2 2 Definition 3 2 Definition 4 2 Definition 5 2 Family Business Review article: "From Longevity of Firms to Transgenerational Entrepreneurship of Families: Introducing Family Entrepreneurial Orientation" 4 Assessment Test 1 37 Chapter 2 Classic Systems of a Family Enterprise 39 The Family System 40 The Ownership System 41 The Enterprise System 42 Assessment Test 2 43 Chapter 3 Representative Governance Systems in Family Enterprises 45 Enterprise Governance 46 Family Governance: Family Council 48 Owner Governance: Ownership Forum 49 Assessment Test 3 50 Chapter 4 Key Characteristics of Family Enterprises 53 Characteristics 53 Challenges 54 Comparison of Family Systems and Enterprise Systems 55 Assessment Test 4 57 Chapter 5 Concepts in Family Enterprise Study 59 Systems Thinking: A Very Brief History 59 Systems Thinking: The Individual in the System 60 Relevant Systems Concepts: Triangles, Scapegoat(ing), Homeostasis, Boundaries 61 Content and Process 63 Family Business Review article: "Using the Process/Content Framework: Guidelines for the Content Expert" 65 Assessment Test 5 77 Chapter 6 Theoretical Frameworks in Family Enterprises 81 The Three-Circle Model 83 The Developmental Model 87 The Balance Point Model 88 Assessment Test 6 89 Chapter 7 Core Professions Working With Family Enterprises 93 Differing Perceptual Filters 95 Understand the Differences Among the Core Professions 96 Assessment Test 7 99 Chapter 8 Multidisciplinary Professional Teams 101 Types of Teams 101 Challenges Teams Face 102 Family Business Review article: "The Effects of Goal Orientation and Client Feedback on the Adaptive Behaviors of Family Enterprise Advisors" 103 Assessment Test 8 138 Chapter 9 Applying What You Have Learned 141 Case 1 141 Case 2 142 Case 3 142 Glossary 145 Suggested Readings From Family Business Review: Journal of the Family Firm Institute 153 About the Website 155 About The Family Firm Institute, Inc. 157 About the Authors 159 Index 161
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