One of the most difficult issues facing family businesses in Asia and around the world is succession planning. A suitable process for addressing succession planning is critical for family businesses that want to continue to thrive for generations to come. This course describes a step by step process that business owning families can follow to strengthen their governance and to make succession planning a topic that is easier to address.
Highlights of the course include:
- How are family businesses different?
- The three circle model of family businesses
- Other tools & models for family businesses
- Advisory & consulting styles when working with families
- The role of the solicitor when working with families
- The starting point: Assessing the family system
- Building the foundation of family governance
- The family meeting & family council
- Conflicts & communication
- Family policies and family constitutions
- The importance of having an exit mechanisms
- The corporate board and the family business
- Identifying & selecting the ideal successor
- Case studies & discussion
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