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A thorough explanation of how family enterprises work
The family enterprise, whether an operating business, a family office, or both, is the backbone of the US and international economies. These enterprises cut across industries and geographies and can be first-generation entrepreneurial companies or multi-generational businesses with family offices. This book offers a foundation in and understanding of how family enterprises work, including working definitions and the key characteristics of family enterprises, as well as useful concepts for working with and in family enterprises, either as a professional or as a family member.
- Written by the experts at the Family Firm Institute, a global network of professionals, educators, researchers, and owners of family enterprises
- An ideal resource for professionals in law, finance, management, and behavioral science, family office and fund managers, and others interested in an multidisciplinary approach to this field
- Sales Rank: #861004 in Books
- Published on: 2013-11-25
- Original language: English
- Number of items: 1
- Dimensions: 9.30" h x .80" w x 6.45" l, .81 pounds
- Binding: Hardcover
- 192 pages
From the Inside Flap
Accounting for between 65 and 85 percent of all business worldwide, family enterprises are crucial drivers of both the prosperity of nations and the global economy as a whole. Coming in all shapes and sizes—ranging from corporate giants such as Walmart, Samsung, and Tata, to countless small to medium-sized companies—family enterprises cut across all industry sectors. And, while no two businesses are exactly alike, and each company has its unique structural, operational, and cultural nuances, when it comes to family-owned enterprises, there is an additional layer of complexity that demands a specialized knowledge and skill set from those who seek to advise and guide them.
Written for the professional who works with family enterprises, either from within or outside of their client companies, this book provides an extremely well-informed look at the complexion of the contemporary family enterprise and its unique functional and behavioral realities. Just as important, it arms readers with a set of powerful analytical, planning, and implementation tools developed by The Family Firm Institute—a global network of professionals, educators, researchers, and family business owners—that are applicable to all types of family enterprise.
With the help of numerous real-world examples, self-assessments, and high-quality graphics, the authors provide in-depth coverage of:
- Classic family enterprise systems—family, ownership and enterprise
- Governance in family enterprises, with a focus on family councils and ownership forums
- Key behavioral/psychological characteristics of family enterprises
- Important theoretical approaches to enterprise study, with an emphasis on systems theory
- Analytical models for family enterprises, including the three-circle model, the developmental model, and the balance point model
- Information specific to the full range of legal, finance, behavioral, and other specialists who work with family enterprises
- Guidelines for taking a multidisciplinary team approach to the challenges and opportunities facing family enterprises in the global economy
To help you test and fine-tune your grasp of the concepts and skills outlined, the final chapter features case studies of three family enterprises, each with its own distinctive family makeup and challenges. In each case, you are tasked with resolving an issue from the perspective of your professional speciality.
Offering a powerful approach to understanding, assessing, and working with family enterprises, this is an indispensable resource for all professionals who consult and advise family-owned companies, as well as family office and fund managers.
For over a quarter century, The Family Firm Institute, Inc. (FFI) has been engaged in educating, connecting, and inspiring professionals who serve family enterprises. FFI is the leading association worldwide for family enterprise professionals and the organization of choice for the advisors, consultants, educators, and researchers who help perpetuate transgenerational family business wealth. In adopting a multidisciplinary and genuinely global perspective, FFI understands family enterprise as a fundamental driver of global economic growth, prosperity, and stability. For its global network of professionals, educators, researchers, and family business owners, FFI provides opportunities to participate in multidisciplinary educational programs and earn professional designation; enables collaboration at conferences, seminars, and online; and creates a single space for interaction, cross-pollination of ideas, expertise, and perspectives to further the field of family enterprise.
From the Back Cover
Praise for Family Enterprise
"As an academic and an advisor who has been in the field since its infancy, I am delighted to recommend Family Enterprise. This book provides a very useful high-level summary of what has been learned about family enterprise, highlighting key frameworks and definitions and referencing important research articles from the Family Business Review. This book is a must-have for your professional library."
—John Davis, Harvard Business School and Cambridge Advisors to Family Enterprise
"As a member of a multigenerational international family enterprise founded in 1801, I strongly encourage all our professional advisors to read this book. The complex world of family enterprises has now yielded a multidisciplinary body of core knowledge. This book contains a wealth of cutting-edge information and insights and is an essential toolkit for any professional who works—or aspires to work—with family enterprises."
—Lansing Crane, Crane & Co.
"Based on over 25 years of research and applied work in the field, this book is an essential tool for any professional working on the financial and liquidity aspects of family enterprises. In a lively and user-friendly format, the book provides a broad base of material designed to introduce all professionals to the complexities of family enterprises and the family dynamics that inform those enterprises. An absolutely indispensable resource for those seeking a current and more holistic approach to the field."
—François M. de Visscher, President, de Visscher & Co., LLC
"A highly useful and succinct introduction to current analysis of family business, crammed full of signposts to further learning and research."
—David Harvey, Chief Executive, Society of Trust and Estate Practitioners (STEP) Worldwide
"I highly recommend this book to scholars and professionals alike. Uniquely blending the practical and the theoretical work that has been done in the family enterprise field, the book offers readers both a comprehensive overview and dynamic multidisciplinary content. Timely, practical, and educational—precisely what the field of family enterprise needs!"
—Pramodita Sharma, PhD, editor, Family Business Review
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