Building Family Governance
03 March 2017
In working with family owned businesses, we have come to realise that they have to learn to successfully manage two facets of governance:
(a) Corporate governance, covering the direction of business operations; and
(b) Family governance, providing a framework of rules that define family members’ roles and responsibilities, and how the family interacts with the business.
This duality is complicated because in most family businesses, individuals will often have several roles. It is often not possible – or indeed desirable – to eliminate all personal interests or conflicts of interest, but family governance systems make it easier to identify and address these with reasonable objectivity.
In the following report we take you through the process. If you have any queries please dont hesitate to call Maybeth Shaw.