Family Ties® E-Letter – September 2005 Issue
September 2005 |
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Welcome to the Family Ties© e-letter brought to you by Pervin Family Business Advisors Inc. I had hoped to get this newsletter out sooner, but June was busy and then we hit the hazy, lazy days of summer – family, cottage and sailing often is the siren's call. There has been so much family business news, from Rigas and Dolan to Murdoch, Ambani, Bancroft, Johnson, Cummings, Lauder and Zoppé, and many articles relating to wealth and wealth preservation that I had to winnow the number of references provided in this edition, although the list is still long. Much of my summer was spent thinking about multi-disciplinary service delivery, which is often discussed but seldom easily provided to business families. I am pleased to report that two very satisfying outcomes resulted: the booklet Power and Resources [first started in 1998] and the term clantinuity. In addition, ongoing assistance to my mentees at FFI continues to be invigorating. I have received many e-mail requests for information and possible processes to deal positively with challenging family business situations. Your remarks and requests have motivated me to develop another pragmatic model to help analyze and assist in these areas, which I plan to call Intelligent Business Family Life [and this is not an oxymoron]. Therefore, I accept your challenge to create this new process or framework and will report back soon, hopefully this year. In upcoming issues, the business family topics will address beneficial aspects of governance, leadership, organization, planning and relationships, to offer a few ideas. If you have a question, a great idea for inclusion in this e-letter, or if you just have some comments you would like to share with us, we want to hear from you Wise and pragmatic habits of successful business families...Habit #4. For your reading pleasure...Summary of McKinsey Surveys 2004 - 2005
A Conversation with Henry Mintzberg
More Reading:
Families in the News...Many of the links presented below require free registration to access the articles.
Thoughts of the day...Next Month: Planning for Clantinuity * When you strip everything else away, the core long-term decisions in a family-owned business are those relating to power and resources. Definition: Clan (klan) n. 1 A social group of people united by kinship and descent, which is defined by actual, alleged or perceived unilineal descent from a common ancestor. 2 A large group of relatives, friends or associates. Clantinuity (klan'tb-nu'i-te) n. 1 a. An integrated and sustainable multi-generational business family transition process. b. A long term plan involving numerous minority owners who share a common clan connection and stress mutual obligations, values and duties. 2 uninterrupted connections, succession, duration, union or continuation with and without essential change. * This is an excerpt from The Accidental Partnership® Series - Power and Resources: Managing Owner Risk, Legacy and Value Did you know...Our web site has recently been revamped and is chock full of interesting and compelling articles for the family business. You can send our articles to a friend, family member or colleague, quickly and easily. |
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