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Success and succession: Five characteristics of a good family business

Wednesday, 20 September 2017

Chances are high that seven out of 10 of the businesses you know are family owned. As defined by audit firm PricewaterhouseCoopers (PwC), a

 

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How CEOs Can Work with an Active Board

Wednesday, 20 September 2017

At companies of almost all sizes, across all sectors, boards are undergoing a profound transformation. Largely as a result of

 

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Solving the Puzzle of Ownership Alignment in a Family Enterprise

Wednesday, 20 September 2017

alignment  noun | ə-ˈlīn-mənt State of agreement or cooperation among persons, groups, nations and the like with a common cause or view

 

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If you have been experiencing any of the following in your boardroom, you are already late in acting to improve the quality of your board. Either you have a governance problem now, or one is coming.

 

• Absence of a rigorous process in defining a long-term, forward-looking business strategy.

 

• Poor communication between the company’s owners and its professional managers.

 

• Significant turnover among the second layer of the company’s senior executives combined with very long tenure by the top layer of senior executives -- conditions that have not been accompanied by strong business performance over the past three to five years.

 

• Board meetings that are too comfortable and always follow a familiar pattern: Nobody challenges anyone in the board meeting on any topic that is material.

 

• Everyone sitting at the board table is a family member, longtime family accountant, family estate lawyer or close friend.

 

We can offer you the guidance that you need. Contact us now.

 

Source:https://www.familybusinessmagazine.com/5-warning-signs-governance-problem