Resources for Family Enterprise Governance & Leadership Across Generations
Succeeding over generations as a family with one or more family businesses, or significant shared wealth, is an incredible challenge that few families are able to manage. Over nearly 40 years, Dennis Jaffe has worked with such families, and developed tools and resources to help them and their advisors meet this test. This web site contains articles, tools and resources and describes programs and consultation that can help a wealthy or business family move between generations, and sustain their personal relationships, build their shared family enterprises, increase their family “capital,” and develop new leadership across generations.
My colleague Jim Grubman and I have created a web site that contains resources for family wealth advisors: Family Wealth Advisor Training
Advising the Enterprising Family
I guide the family to create a safe setting to convene, and move productively toward creating unique understandings, agreements, structures and processes that enable them to sustain themselves across generations. I also help the family organize their stewardship to sustain the family business and other family enterprises, and develop leadership within their next generation, so that the wealth and success that they have already achieved can be sustained by their heirs.
Many families today decide to convene a family meeting, or create a family council, to deal with the challenges related to sustaining their family enterprises across generations. My work with families involves helping family members work together, with the help of their professional advisors, to engage their most difficult issues, and come up with their own solutions. By convening family work sessions, family members can face the tough questions, listen to each other, and crystallize their unique values, principles and guidelines that move them toward agreement and an action plan for their family enterprise, and for their family.
Financial Advisor Magazine
In Good Fortune: Building the 100 Year Family Enterprise. Of special note by the magazine, the research provides specific information and their details in order to create a family culture and governance system beyond the first 3 generations of a family.Financial Advisor Magazine features Dennis Jaffe’s findings
Developing Transformational Leadership in the Family Enterprise
I have been working with the Family Business Network—Pacific Asia region, to develop a year-long intensive set of modules that build a learning community of next generation leaders who develop the personal, family and organizational skills to make a difference in their family enterprises. We have developed four programs that are conducted several times a year.These programs can also be conducted in other places.
Tools and Resources
Good Fortune: Building a Hundred Year Enterprise
Summer 2013: Most family enterprises do not outlive the first generation. But a few survive for several generations, with a thriving business and a unified family. What causes them to beat the odds?
We interviewed family leaders from 38 families that have successfully made it through at least two generational transitions. We call them Generative Families, because they have not dissipated the family wealth, but rather used the wealth as a creative force to allow them to grow, develop, innovate and share the benefits of their wealth widely across several generations. This study presents their stories—in their own words—about how they approached each transition.
Through 18 case studies we illustrate how each family organized its family and business or financial affairs, thus parting the curtain on very public and highly private families. While we have protected our respondents’ confidentiality, their stories shed light on their internal values, organization and activities, and how they overcame often-significant crises and conflicts.
Best Practices of Multi-Generational Global Families
What do families do to succeed in complex business over generations? A report on 192 global families, sponsored by the Family Office Exchange and the Family Business Network, shows that they regularly draw on 15 guiding practices. These practices support the three foundations of nurturing family connection, developing clear collaborative agreements, and developing leadership in the new generation. The report details the degree and importance of these practices, and compares types of families along many dimensions.
The Values Edge
The Values Edge employs Values Cards to help an individual, couple, family or team to define their Personal Values Pyramid, and then work together to create a Family or Team Values Statement.
Each kit includes a deck of values cards, along with colored post-it stickers for transferring values to a Display Card that preserves your Values Pyramid in a visible format that can be worn as a name card. By sharing personal values arranged in colorful pyramids, people in a family or a work team can easily experience their similarities and differences.
Family Enterprise Competency Map
This new 50-question on-line learning tool allows each family member to respond to questions about family relationships and business-financial arrangements to create a shared picture of the family enterprise. It can be used by a family on their own, or with their family advisor, as they create cross-generational governance.
Dennis T.Jaffe PH.DDeveloping Responsible Leadership Across Generations in Family Enterprise
- Good Fortune: Building a Hundred Year Enterprise
- New Whitepaper with Family Office Association Regarding Governance
- Best Practices of Multi-Generational Global Families
- Crucial Conversations and Emotional Intelligence
- The Values Edge
- From Child to Citizen of the Family Enterprise
- Family Enterprise Competency Map