Families aim for more control at Ford, Nordstrom

By | September 1, 2017|Family Business|

Bill Ford, executive chairman of Ford Motor and great-grandson of founder Henry Ford, feels he didn’t get buy-in for his ideas and has installed a new CEO who he hopes will carry out his vision. The Nordstrom family is exploring taking Nordstrom Inc. private as their company contends with disruptive change in the retail sector. [...]

How three family-run Australian brands became global businesses

By | September 1, 2017|Family Business|

Lucas' Papaw, Bundaberg Brewed Drinks, Blackmores. If not household items, these brands are certainly easy to find in pharmacies and supermarkets across Australia. All three businesses are still family owned. Their number of employees range from 30 to more than 1000, but John McLean, chief executive of famous ginger beer brewer Bundaberg Brewed Drinks, said [...]

Businesses must aspire to reach 100 years

By | August 24, 2017|Family Business|

Family businesses face major challenges in working through ownership and management succession and family business leaders acknowledge the problem. However, few know where and how to develop a governance and succession plan. Visionaries need not go through the same periods of adversity. To preserve their wealth, they must initiate governance and succession at the onset [...]

Clear vision and unity key for Sri Lanka’s family businesses

By | August 24, 2017|Family Business|

Sri Lanka’s family business continuity will depend on their ability to have a clear vision and retaining family unity, business leader Shiromal Cooray said. “The failure to articulate the vision of the business in writing can be especially problematic as a company transitions from the 1st generation to the 2nd because the underlying goals are [...]

Family business not necessarily nepotism

By | August 16, 2017|Family Business|

Given the uproar over Ivanka Trump’s sitting in for her father at the “adult’s table” at the G-20 summit in Hamburg, Germany, earlier this summer, why it is that we seem so eager to cry “nepotism” where family enterprise is concerned. What is it, exactly, that certain segments of America find so threatening about such [...]

MAKING CENTS: Enhancing the odds of successful family business succession

By | August 16, 2017|Family Business|

The odds of successfully transitioning a business from one generation to the next are extremely low. In fact, as each new generation ages to the point of needing a successor, it is even less likely that a transition to the next generation can be successfully accomplished. If you know down deep that your next generation [...]

The third-generation curse

By | August 7, 2017|Family Business|

Like most family-run enterprises across the globe, only 13 percent of those in Singapore survive till the third generation, according to a March 2017 survey of 100 firms done by KPMG and CPA Australia. Though statistics vary, the fraction of such Filipino family businesses is likely similar, bolstering the so-called three-generation curse, where the first [...]

Family businesses need to innovate through the ranks

By | August 7, 2017|Family Business|

Innovation needs to be more pervasive amongst all levels of staff in family businesses, according to professional services firm KPMG Singapore. Recent research by the firm shows that innovation is currently mostly limited to founders and senior people in a family business when it is important for every worker to be empowered to innovate. In [...]

Great Investors Debate – Should You Be Investing In Family-Controlled Businesses?

By | July 28, 2017|Family Business|

Companies in which founders and their families hold controlling stakes have the rare ability to maintain a long-term view. That can be a huge advantage, particularly when it comes to capital allocation. Should you be investing alongside them? According to data compiled by the Boston Consulting Group (BCG), nearly one-third of all companies with sales [...]

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