Strategic Planning for the Family Business Parallel Planning to Unite the Family and Business

ISBN-10: 0333947312
ISBN-13: 9780333947319
Edition: 2001
List price: $41.00
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Book details

List price: $41.00
Copyright year: 2001
Publisher: Palgrave Macmillan
Publication date: 1/29/2001
Binding: Hardcover
Pages: 270
Size: 6.50" wide x 9.50" long x 0.75" tall
Weight: 1.518
Language: English

Craig E. Aronoffis Co-founder, Principal, and Chairman of the Board, of The Family Business Consulting Group, Inc. He is a leading consultant, speaker, writer, and educator in the family business field.  Aronoff is perhaps the most prolific writer in the family business field.  As the founder of the Cox Family Enterprise Center and current Professor Emeritus at Kennesaw State University in Marietta, GA, Aronoff invented and implemented the membership-based, professional-service-provider sponsored Family Business Forum, which has served as a model of family business education universities world-wide. He has held the Dinos Eminent Scholar Distinguished Chair of Private Enterprise and was a professor of management in Kennesaw State's Coles College of Business.  The Aronoff Professorship of Family Business at Kennesaw State University was named in his honor.Joseph H. Astrachanis a Principal in the Family Business Consulting Group, Wachovia Eminent Scholar Chair of Family Business, Professor of Learning and Professional Development, and Director of the Cox Family Enterprise Center at the Coles College of Business, Kennesaw State University.  In addition he is Distinguished Research Chair of Family Business at Loyola University Chicago’s Business School.  Internationally-known for his expertise in family business, he serves on the Corporate Boards of Beaulieu of America, Foley Equipment Company, Banner Properties, All Medical Personnel, and Devin Properties.  He is editor ofFamily Business Review, a scholarly publication of the Family Firm Institute (FFI) of which he is a former board member. Astrachan received the Richard Beckhard award, which is the Family Firm Institute’s highest honor for contributions to the field of family business, and the International Family Business Program Association’s Lifetime Achievement in Research Award.  John L. Wardis Co-founder of the Family Business Consulting Group Inc. He is Clinical Professor at the Kellogg School of Management and teaches strategic management, business leadership and family enterprise continuity. Ward is the author or co-author of several leading texts on family business,Keeping the Family Business Healthy,Creating Effective Boards for Private Enterprises,Strategic Planning for the Family Business,Perpetuating the Family Business,Unconventional WisdomandFamily Business Key Issues. He is also an author of a collection known as The Family Business Leadership Series, each focusing on specific issues family businesses face.

List of Figures
List of Tables
Preface
Acknowledgments
Understanding Family Business Planning
The Importance of Planning for Business Families
The Challenges Facing Family Businesses
Balancing Family and Business Demands
The Need for Family Business Planning
The Benefits of Family Business Planning
The Parallel Planning Process
The Obstacles to Family Business Planning
The Challenge of Creating a Family Business Legacy
Summary
The Parallel Planning Process
The Influence of Life Cycles on Family Businesses
Strategic Planning and the Family Business
Parallel Planning for the Family and Business Systems
The Parallel Planning Process for the Family
The Parallel Planning Process for the Business
The Shared Future Vision of the Family and Business
Summary
Planning for the Family
Securing Family Commitment
Understanding Family Commitment
Exploring Family Commitment
Discussing Core Family Values
Identifying a Family Business Philosophy
Family Vision
Statement of Family Commitment
Summary
Encouraging Family Participation
Creating an Environment that Supports Participation
Understanding Family Conflict
The Importance of Addressing Conflict in Family Relationships
Family Fairness
Family Meetings as a Tool for Enabling Family Participation
Summary
Preparing the Next Generation of Family Managers and Leaders
The Influence of Life Cycle on Family Business Careers
Understanding the Business' Future Management Needs
Family Business as Career
Launching a Family Business Career
Planning a Meaningful Career
Identifying the Next Generation of Managers and Leaders
Planning for Next-Generation Relationships
Summary
Developing Effective Ownership
Family Business Ownership Configurations
Factors Shaping Ownership Configurations
Ownership Education Programs
Family Ownership Agreements
Estate Plans
Family Business Governance
Stewardship as a Family Ownership Value
Summary
Planning for the Business
Assessing the Firm's Strategic Potential
Defining the Firm's Strategic Potential
The Swot Analysis
The Internal Analysis
Assessing the Firm's Financial Strength
Assessing the Firm's Marketing Success
Assessing the Firm's Organizational Resources
The External Analysis
Analyzing the General Environment
Analyzing the Market and Industry
Determining the Firm's Strategic Potential
Summary
Exploring Possible Business Strategies
Discussing the Firm's Strategic Priority
Selecting the Strategic Direction
Seven Possible Strategic Directions and the Basic Business Strategies
Evaluating the Basic Business Strategies
Unique Advantages of Family Businesses
Potential Disadvantages of Family Firms
Recommending Possible Strategies
Summary
The Final Strategy and Reinvestment Decision
Identifying the Business' Strategy
Assessing the Family Investment Decision
Analyzing the Business' Market Value
Family Investment Considerations
Other Factors Affecting the Reinvestment Decision
Reinvestment Issues
Summary
Integrating Family and Business Plans
The Role of the Board in Family Business Planning
Affirming Family and Strategic Commitment
Supporting the Family Enterprise Continuity Plan
Contributing to the Business Strategy Plan
Summary
Appendices
A Family Business Assessment
Family Business Communication Questionnaire
Exploring Family Business Phil Osophy Questionnaire
Successor's Career Assessment
Reardon Family Enterprise Continuity Plan
Competitor Analysis Worksheet
Reardon Technology Business Strategy Plan
Notes
Glossary of Terms
Index

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