ARTICLES
Family Business Ethics Institute Seeks To Promote Ethical Business Governance with Launch
Former United States Supreme Court Justices Potter Stewart once said, “Ethics is knowing the difference between what you have a right to do, and what is right to do.” Navigating ethical codes within any family business often means encountering blurred lines between...
Top 5 Reasons Why Succession Planning Should Be at the Top of Your Family Business’ To Do List
‘Ensures seamless and hassle free transition of power’ (Per Business World)‘Reduces Friction Amongst Family Members’‘Establishes A Long Term Plan Of Action’‘Keep Staff Motivated’‘Protects Family Wealth’
For Family Owned Firms, Transparency Is About Much More Than Numbers
A successful business—and this holds especially true for family-run operations—depends on more than production, marketing, revenue and profit. Clear lines of communication, and a full understanding of the needs, wants, and desires of all stakeholders, can determine...
Six Ways to Maintain Transparency in a Family Business
Family businesses have a reputation for not always being forthcoming with company information. Many companies believe they have good reason, too, and that holding back information from the public can give them a competitive edge. Yet family business experts contend...
Family Business Philanthropy Sets Its Sights on Social Impact Investing
Government aid and charity cannot solve all of society’s problems, leaving openings for family philanthropies to step in and fill the gaps. That is among the findings from a 2016 survey conducted by EY in collaboration with the Center for Family Business at...
Nine Ways for Family Businesses to Ward Off Conflict of Interest
Conflict of interest can erode an organization’s credibility. But for family businesses, these kinds of scenarios can be particularly difficult to avoid. Conflict of interest is defined as a situation in which an individual has competing interests or loyalties, as...
Raising the Ethical Bar in Family Business
PER JOURNAL OF ACADEMIC AND BUSINESS ETHICS : “Increasing expectations are being placed on privately-held businesses regarding governance and ethical compliance processes. Some of those expectations are created internally as owners and founders attempt to follow “best...
The Importance of Good Governance in Family Business
PER THE FAMILY BUSINESS JOURNAL : “Corporate governance has gained tremendous attention in recent years, While the process is greatly discussed, it is not always well understood, especially in family businesses, Family business governance is a system of processes and...
How Family Business Leadership Can Keep the Peace Among Its Ranks
Recent census figures estimate that about 90 percent of businesses in the United States are family-owned or controlled. The sheer ubiquity of these organizations makes it unlikely that all of their employees share genes with those in charge. This disconnect...