Founded by Mark Deo, who has led the change with 126 family businesses over 23 years. The Family Business Advisors Network (FBAN) focus is first on attitudes, behaviors and disciplines of family business leadership, then governance, succession, strategy, and team engagement.
Trends in Family Business Today
Most organizations focus on performance. Yet behaviors will always precede performance. Leaders must model behaviors, attitudes & disciplines that demonstrate their vision in action.
Unresolved conflict will inhibit the growth and health of the company as well as the family. It impacts non-family members reducing their engagement and enthusiasm.
Having several generations of family working side-by-side may result in a misalignment of values and culture. This can cause confusion so a unified vision must be consistently communicated.
Only 1/4 of family businesses pass the reigns to subsequent generations with just 33% having succession plans. Companies with such plans in place are positioned for long-term shareholder value.
It is estimated that 71% of all employees are disengaged at work. Most companies try to bribe them with money but all they seek is satisfaction and meaning from their work.
The effective governance of a family business is critical. Often times this can be done by optimizing the roles & responsibilities of the directors, advisors and fiduciary board members.
How well-equipped is the next generation in navigating your business through the challenges of the coming decades? Download our FREE Generational Planning Guide.