Plan ahead for your company's survival
- Five common mistakes that can be bedevil any family business. Holsapple III, Earle T. // Business News New Jersey;10/18/95, Vol. 8 Issue 19, p53
Enumerates the major problems encountered by family businesses and their solutions. Includes failure to plan succession; Inability to define a clear vision for the business; Failure to manage the business in a cash flow basis.
- Passion and its place in business. Ward, John L.; Aronoff, Craig E. // Nation's Business;Mar95, Vol. 83 Issue 3, p50
Emphasizes the importance of having a passionate vision to achieve success in family-owned businesses. Importance of goal-setting; Articulation of management philosophy; Providing for a sense of legitimacy to enhance organizational pride and loyalty.
- Aim For The Right Environment. Murphy, James A.; Crosby, Georgann // Nation's Business;Mar95, Vol. 83 Issue 3, p52
Offers suggestions to a family business dilemma. Advisory board of businessmen; Join local family-business forum; Removing feelings of isolation; Management and estate-planning possibilities; Contributions to retirement funds.
- Prepare For New Leadership. Crosby, Georgann; Yost, Hunter // Nation's Business;Mar95, Vol. 83 Issue 3, p52
Offers solution to a business related family dilemma. Preparing a successor; Life after business; Solutions; Forum of family members; Outside board or advisory; Advantages of advisory board.
- How to manage your firm's biggest threat. Aronoff, Craig E.; Ward, John L. // Nation's Business;Jun95, Vol. 83 Issue 6, p49
Offers advice on how to manage ego problems when running family business enterprises. Contributing factors for failed family-business succession; Effect of individual agendas; Importance of balanced family and individual goals; Bloated ego symptoms; Trust as fundamental key to family business...
- The agony of quitting a family firm (part 2). Nelton, Sharon // Nation's Business;Oct95, Vol. 83 Issue 10, p62
Part II. Focuses on problems encountered in family-owned businesses. Pressure from parents' expectations that the business will support them in luxury during their retirement; Benefiting from a specialist trained in interpersonal communications; Staving-off desperation-driven departures.
- `Run the business like a business'. Aronoff, Craig E.; Ward, John L. // Nation's Business;Nov95, Vol. 83 Issue 11, p49
Focuses on managing a family business. Developing family policies; Hiring experience and objective business people; Agreement on methods to reconcile family-business conflicts.
- Reducing the risks of family-business growth. Aronoff, Craig E.; Astrachan, Joseph H. // Nation's Business;Mar96, Vol. 84 Issue 3, p52
Presents strategies for managing risks associated with growing family businesses. Clarification of family goals; Emphasis of the family's understanding of using business debt; Development of policies on debt levels; Discussion of estate plans.
- Case study: When a business goes sour. Geiser, Leonard; Poza, Ernesto J. // Nation's Business;Nov96, Vol. 84 Issue 11, p60
Proposes two solutions to a family-business's cash-flow problems. Alternatives to selling the business; Converting the business into another type that is more attuned to the demands of immediate customers.