Truth be told, implementing and managing a board of directors in a family firm isn’t an easy task for a variety of reasons, including the unique nature of each family and company and its specific context and growth stage. Through my years of experience working with family firms, I have gathered several practical insights to […]
8 pillars of a professional board of directors
Robust corporate governance systems in family firms shouldn’t be any different than those in well-managed non-family firms – at least in theory. In practice, it’s another story. Boards of directors in family businesses have adjacent psychological and psychosocial dimensions, and disregarding these dynamics can easily lead to tensions among board members. During my tenure as […]
Corporate governance in family firms
By their nature as family-owned, some family businesses think they can be more familiar and informal in their approach, and less commercial and regimented. This confusion can lead their operations to move in one direction and business formalities in the other. As a result, their corporate governance structures – shareholder and board meetings, for instance […]
Institutional configuration in family firms: the board of directors
Like all companies, family-owned businesses require initiative, power and financial resources in order to excel. For those that aspire to transition from firm to institution, however, additional structures and processes are needed. While no one is immortal, institutions are born to transcend generations. They don’t depend on the will or whims of one specific person […]