While each family has different dynamics, structures, and relationships; designing and adopting a family governance system is the only way forward. It will enable business survival, growth, development, success, and stable transition across generations. A good family governance practice involves determining family engagement responsibility, sustainability strategies, and ensuring the effective transfer of authorities to hired management. A family governance system necessitates discipline by structuring and involving general assembly, family governance institutions, board of directors, and possibly an advisory board; while defining the relationships between them, and with other stakeholders.
One of our key roles is helping family businesses set a governance system in place with the aim of protecting the business from the normal and predictable challenges that family involvement brings about.
We understand that formalising ownership structures, authority, and responsibilities can stir up resistance since a family business is usually built on a level of trust and informality. However, we help family businesses comprehend how critical it is to set governing policies, procedures, and instructions and develop mechanisms for dealing with challenges and crises. Our approach requires performing a comprehensive assessment of current business procedures and practices. We then map out the procedures and policies needed to transform the family business into an institutionalized corporate environment. We create a family council and define council membership. We design the family constitution, define the role of the family, and create the needed structure and family offices. We dig deeper towards defining exit policies, buying, and selling shares in family business rules, all while ensuring harmonious business interactions.
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Corporate Maturity Assessment
Corporate maturity assessment is a crucial step that helps organisations identify their baseline and outline the plan that can capture, maintain, use, and share data of corporate maturity. This process aims at benchmarking an organisation’s business processes to industry’s optimal practices which allows the design of the optimal plan needed...
High-performing boards are capable, engaged, and strategically focused to deliver practical and impartial governance processes on all aspects of organisational management. Board members must be able to navigate the challenges and opportunities that a business may encounter and must conduct crucial decisions to ensure sustainability and business continuity. This can...