This process implies knowing and understanding the roles and responsibilities that each member plays in the family’s corporate governance. Some of these structures include Family Council, Family Assembly and Family Office.
The need and use of a Family Council depends on the family’s size and degree of complexity. This organization aims at strengthening family values and serving as a sounding board for issues related to the family and its heritage. The Family Council has oversight on the board composition and size, its operations, as well as the topics it addresses.
This structure is responsible for gathering all family members regardless if they hold a role in the company or if they are shareholders. It decides on the organization of activities, the information flow, as well as the duration of the meetings.
Families enterprises must oversee the individual and shared heritage in a way that that facilities the development of proper management tools, as well as the decision-making process that ensures profitability. Establishing its own Family Office or an Advisory Service Office implies short- and long-term decisions. Familias Empresarias Management Consulting provides dedicated assistance and advisory in the search and selection of a Family or Multi-family Office.
Succession Planning is a process that should include fundamental issues such as the succession in the company’s governance, succession in management, as well as succession in ownership. This process is generated in the specific context in the family business cycle and it implies the alignment to a common vision.
Preparing the family members that will lead the business in the future is fundamental. It implies creating opportunities for professional development for all the family members (whether they work or not in the business) and empowering the members of the new generation. The aim is to ensure multi-generational integration and proper planning .
Planning and defining a set of rules that is consistent with family values and that is focused in the future is one of the most important challenges a company legacy faces. Incorporating effective guidelines and directives to the system of family management requires flexibility and a clear interpretation of the family wishes. This involves establishing common agreements to deal with sensitive but unavoidable issues related to the evolution of the business and its potential.
Just as with people, conflicts are inherent to any company. Our team possesses a solid track record in conflict mediation – a vital stage to ensure a healthy and thriving family business. Familias Empresarias Management Consulting provides expertise to strengthen dispute management and generate tools to deal with emotions in family business. Our methodology fosters communication at both a family and company level in order to preserve and secure family relationships.
The formalization of roles in a family business process entails the establishment of corporate governance. Any enterprise, depending on the complexity, size, industrial sector and life cycle requires a set of structures, including Shareholders Assembly, Board of Directors and Executive Committee.
Shareholders Assembly
Familias Empresarias Management Consulting advices family enterprises on how to create this key structure, how to define its characteristics and functions, as well as how to choose the optimal type of assemblies to determine rights and duties of the family shareholders.
Board of Directors (BoD)
The Board of Directors is a body that defines the actions that will directly impact the company’s strategic planning and future investments. In this context, it is essential to determine the building blocks required to set up an efficient structure to give value to the family business. From a sounding board to a highly professional board of directors, Familias Empresarias Management Consulting helps with the planning and implementation process of a BoD governance structure to make the CEO accountable, establish company policies and design managerial strategies.
Executive Committee
The operational work and the implementation of the company’s business strategies requires a high-caliber executive team. Familias Empresarias Management Consulting can assist in professionalizing the company. Defining the roles of the leadership team and functional managers involves a commitment to attract the best talent in the industry to run a successful and lasting business enterprise .
Familias Empresarias Management Consulting develops an exclusive methodology that helps family businesses diagnose their own organization from a different perspective. Regardless of size and industry, operating with the highest standards of professionalism across all areas of the company helps not only to differentiate it from its competitors but also endure over time.
To create a thriving and aligned business culture without neglecting the family interests, companies need to develop a vision, mission and purpose. Strategic planning and the development of a consistent business model in line with the family expectations is an essential success factor in management.
Familias Empresarias Management Consulting organizes workshops and conferences around the topic of family business. These events focus on family business management, founder’s challenges, family business system dynamics, corporate governance best practices, sibling society, succession process, etc.