In transitioning leadership and ownership to a rising generation, successful family enterprises (family business, family office, foundation) enter a new world.
They have more family members growing up and seek change and renewal in family and business. They need to develop a family organization independent of the business, whose rules and practices express the family’s goals, values and desires, and are understood and accepted by everyone.
In the first generation a family can make decisions informally. But by the second generation the family needs to create policies and practices that enable the family and business to move forward, interconnected but more and more independently. Family Governance is the process of creating clear structures and agreements that align and organize the family enterprise to take care of the divergent needs of individuals, families, business and community activities. I guide families to develop appropriate and effective governance.