Sustained Success Across Generations in Family Businesses

Duration: 1 Day

Participants:

Training Topics

• What is a family business?
• Characteristics of family businesses
• Challenges faced by professionals in family businesses and areas where they feel strong
• Management strategies and tool
• Challenges encountered in institutionalization and solution recommendations
• The importance and function of the control environment, internal audit, budgeting, and reporting
• The contribution of the audit function to management and the credibility of companies

Institutionalization and Family Constitution in Family Businesses

Duration: 4 Hours

Training Topics: 

COMPANY–FAMILY CONCEPT
What is a company/business?
What is a family?
What is a family business?
What are the strengths and weaknesses of family businesses?
What is the lifespan of a family business / how long does it last?
Why do family businesses tend to have short lifespans?
What are the reasons for the closure or transfer of family businesses?
What are the problems experienced in family businesses?

INSTITUTIONALIZATION – INSTITUTIONALIZATION IN FAMILY BUSINESSES
What is institutionalization?
Why is institutionalization needed?
Institutionalization in family businesses
FAMILY CONSTITUTION – FAMILY COUNCIL
What does a family business constitution mean?
Why a Family Constitution?
What is the legal binding nature of the Family Constitution?
What is the Family Assembly (Council)?
Family Plan – Succession Plan – Inheritance Plan
What does preparing the 3rd generation mean?
How will we transfer the company? What are the transfer-related problems?