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Engaged Ownership: A Guide for Owners of Family Businesses

Engaged Ownership: A Guide for Owners of Family Businesses

Amelia Renkert-Thomas, Kenneth McCracken (Foreword by)

ISBN: 978-1-119-17113-3 December 2015 224 Pages

 Hardcover

In Stock

$34.95

Description

Successful ownership transition requires effective decision making at the top

Engaged Ownership is the definitive owner's guide to the family enterprise. Whether you're taking over a family business, family office, or trust, this book shows you how to work effectively with the management and board to keep the enterprise moving in the right direction. The first guide of its kind written from the owner's perspective, this book is designed to help owners who are truly committed to growing all forms of capital be successful in their role. You'll learn the time-tested process that helps you 'unstick' decision-making, become engaged and effective, and manage the transfer from owner control to shared ownership while minimizing risk. Improve communication and relationships with the board, and ensure that every stakeholder understands your strategies and vision for the future. You'll allay the fears that frequently accompany ownership transfers, and inspire a sense of teamwork that leads to sustainable success generation after generation.

As the Baby Boomers retire, business founders and entrepreneurs worldwide are transferring ownership of privately held enterprises to their children in record numbers. It can be a complex and difficult-to-navigate time for everyone involved. This book helps you smooth the way to a successful transition, and transcend the owner's traditionally passive role.

  • Learn to work effectively with management and the board
  • Get everyone on the same page in terms of vision and direction
  • Build relationships that lead to forward-thinking decision making
  • Succeed in the ownership role by bringing your expertise to the fore

Ownership transfer often triggers a radical change in family enterprise, and if poorly managed, can turn a business in the wrong direction. Engaged Ownership shows you how to build a dynamic and effective partnership with trustees, board, and management, and become a successful steward of the family's financial, human, social, and operational capital.

Foreword xi

Preface xiii

Acknowledgments xxiv

Part: I Engaged Ownership: An Introduction

Prologue 3

Chapter 1 More at Stake than Money 9

Chapter 2 Achieving Engaged Ownership 21

Chapter 3 Engaged Ownership: Hallmarks and Impediments 29

Part: II Getting Organized

Chapter 4 Family Business Roles and Relationships 45

Chapter 5 The Legacy of the Past: Natural Governance, Family History, and Culture 55

Chapter 6 Enumerating Core Capital 69

Chapter 7 Shared Purpose 85

Chapter 8 Vision and Mission 93

Chapter 9 Is It “Good Enough”? 103

Chapter 10 Alternatives to Engaged Ownership 107

Part: III Practicing Engaged Ownership

Chapter 11 Forums 117

Chapter 12 Allocating Power among Owners, Board, and Management 125

Chapter 13 Working with Other Forums 135

Chapter 14 Meetings 145

Chapter 15 Policies 153

Part: IV Three Challenges: Hats, Trusts, and Outside Investors

Chapter 16 When an Owner Also Runs the Enterprise 161

Chapter 17 When an Owner Is Also a Trustee 171

Chapter 18 Bringing in Outside Investors 179

Chapter 19 Epilogue 185

Appendix A Sample Decision Grid 189

About the Author 195

Index 197