Some of the longest standings businesses across the globe are family businesses. They are the the epitome of resilience. However just like any other business, family businesses need to deal with a volatile, uncertain and complex business environment, where the past success doesn’t guarantee future success. Once, someone I look up to taught me, that …
Continue reading Hard Times Ahead – Do not shoot the messenger in your family business!
As a business owner or leader, do you have a firm understanding of the business's value? Do you know with certainty how much value you created in the past year? Can you pinpoint where in your business value is being created and where it’s declining? If the answer to any of these questions is “no,” …
As a family business consultant I meet way too often family members that are given jobs, promotions and salaries that they would never have achieved hadn't they been family members in the first place. One of the most critical juncture and challenge facing any family businesses is how to treat the next generation. Most parents …
Continue reading Succession Planning in Family Business – Is it really merit based?
As we face the choppy waters of rising inflation, rising interest rates, supply chain issues, human resource shortages and a likely economic downturn - governance in a family business assumes paramount importance. Governing a family business is like sailing a ship. Indeed, the term governing itself comes from the Greek word for “guiding or steering.” …
Continue reading Your Family Business needs a functioning and competent Board
Many economic indicators are flashing red. Virtually all economic forecasts predict an economic recession for the EU and US economy next year. It is within this context that many companies are now planning and preparing their annual financial budgets, at a time of high uncertainty. Budgeting-as-usual will very likely not be enough this time round, …
Besides developing, supporting, and participating in the governance system, leaders in family businesses need to lead people, and this is different from managing their work. Leading is fundamentally about identifying where the family business needs to go (developing a compelling vision for the future), strategising how to get there, and getting people to change in …
The world is presently a more complex and interconnected than ever before. Increased globalisation, shifts in consumer preferences, geopolitical instability and countless other factors have made the future largely unpredictable and foggy. Capturing all these relationships in a reliable forecast is impracticable. So the question I am frequently asked is how can we build business …
I normally never use this Blog or write any articles with reference to any issue or matter in the current local news. However I will draw exception to this, with regards the recent controversy that has hit St. Albert the Great College. Let me be clear, this article will in no way express any opinion …
I still see business leaders resisting the need for change in the organisations they are leading, although the need for quick and agile change is needed to help their businesses survive the present turbulent environment. It is useful to understand as to why business leaders resist and become lethargic at implementing change although all indicators …
Continue reading No Space for Resisting Change in a Turbulent Environment
Reading the financial news these days makes some sorry reading. The latest news today shows that eurozone manufacturing orders are falling at the fastest pace since the debt crisis in 2012 with an increasing number of producers cutting production in line with the deteriorating demand environment, as well as scaling back both their purchases of …
A Business Blog for SMEs & Family Businesses 