WHEN TENSIONS ARISE
Managing conflict in the family business
CONFLICT shouldn’t be viewed by family businesses as something to avoid at all costs. The positive outcome of any well-managed conflict – or ‘creative tension’ – can be that it helps family businesses take advantage of diversity and build their competitive advantage.
DNA CULTURE
Successful management of DNA embeds values
SETTING up and managing a family business is one of the most challenging things anyone can do. WSBA asked Leanne Hegerty, Partner Private Enterprise at KPMG to answer some questions relating to the keys issues around setting up and managing a family business.
LEADERSHIP IN ACTION
Be the devil’s advocate in your business
PASSION and vision are two characteristics that make a good leader. It’s important that these traits be tempered by humility.
SUCCESSION STUMBLING BLOCKS
Proper planning can secure the future
WHILE it’s not always top of mind for business owners, succession planning is critical to ensuring the long term success and value of the family business. A well-considered and successfully executed plan is key to securing a stable and sustainable future.
CREATING GOVERNANCE STRUCTURES
Importance of keeping it all together
STARTING a family business is easy, relatively speaking; sustaining it beyond a couple of generations is more challenging. It’s often said that the typical family business goes from rags to riches and back to rags in three generations.
