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The Evolution of our Roles in the Family Business. Entrepreneurship June 1st, 2006 Memorial University by Denise Paré-Julien. QUESTIONS. What are the advantages of being part of a business family? What are the challenges?. Advantages. Successors: Access to first hand experience

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the evolution of our roles in the family business

The Evolution of our Roles in the Family Business

Entrepreneurship

June 1st, 2006

Memorial University

by Denise Paré-Julien

questions
QUESTIONS
  • What are the advantages of being part of a business family?
  • What are the challenges?
advantages
Advantages
  • Successors:
    • Access to first hand experience
    • Financing
    • Access to a network
    • Family expertise
    • Feeling of being part of something
    • Proud
advantages4
Advantages
  • Spouses in the business
    • Trust
    • The will to build
    • Feeling of belonging
  • Spouses not in the business
    • Witness spouse’s accomplishments
    • Proud of offering work to other people
    • Strength and independence of the family through job creation
advantages5
Advantages
  • Predecessors
    • A sense of freedom
    • Chance to accomplish your objectives
    • Easier to build ownership
    • Career opportunity for our children
advantages of business families
Advantages of business families
  • Long term vision for the business
  • Vehicle for educating and promoting family values
  • Higher Potential for Success:
    • Sense of belonging, loyalty, devotion, implication
  • Higher capability of creating excellent business relations:
    • Supplier, clients, partners
challenges
Challenges
  • Successors
    • Higher expectations on the part of family members
    • Separate boss-father-mother: Business – Family
    • Difference of opinion on strategic orientation of the business
    • Emotions
    • Difficulty to negotiate raises in salary
    • Always having to prove yourself
challenges8
Challenges
  • Spouses in the business
    • Confrontation
    • Lack of new blood
    • Having to prove yourself
  • Spouses not in the business
    • Lack of balance between family and work
    • Impact of the business on the family and vice-versa
    • Rivalry amongst family members
challenges9
Challenges
  • Predecessors
    • Reconcile needs and emotions
    • Difficulty to meet needs of children and those of the business
    • Relations with spouse and family members not working in the business
challenges of the business family
Challenges of the Business family
  • Family or business first ?
  • Formal or informal organization ?
  • Family or non-family managers ?
  • In laws or outlaws ?
  • Inclusive or exclusive in membership ?
  • Succession : an event or a process?
challenges continued
Challenges continued…
  • Fair vs. Equal ?
  • Mandatory retirement or voluntary renewal ?
  • Secret or Transparency ?
  • Personal Aspirations or Family Vision ?
  • One leader or a Team ?
  • Entitlement or Meritocracy ?
examples of symbols
Examples of symbols

death

divorce

Man

Women

genograms families
Genograms & families
  • A Genogram is an information rich format for drawing a family tree
  • A Genogram is not a predictor of family behaviour it suggest tendencies, not ironclad behavioural rules.
  • The Genogram helps us identify:
    • Household structure
    • life cycle patterns
    • pattern repetition across generations
    • life events that affect family functioning
    • relation patterns and triangles
    • family balance and imbalance

Source: How families work together, Whiteside, Ward, Aronoff, Family Business Leadership series no 4

slide18

Family

Business

Ownership

The three circle model

Taguiri & Davis

slide19

2

Family

Business

4

6

1

3

5

Ownership

7

7 territories

Taguiri & Davis

slide20

Overemphasis on the family

Family

Business

Erodes in the business: communications, relations, performance appraisals, decision making and strategic

options

Source: T. Hubler and G. Ayres

slide21

Overemphasis on the business

Business

Family

Erodes in the family: communications, identification, loyalty, emotions and time allocated to the family

Source: T. Hubler and G. Ayres

slide22

Balance between family and business

Family

Business

Creates: trust, commitment, efficiency in the business and family harmony

Source: T. Hubler and G. Ayres

slide23

Family

Business

Ownership

When the business can not supply revenue for all the family members

slide24

Family

Business

Ownership

When the family can not supply all the needs of the business

slide25

A dynamic model

Family

Business

Ownership

family business
Emotion

Born into

Relationships

Unity & Support

Security

Equality

Inward

Status quo

Rationality

Hired into

Results

Competition

Risk

Equitability

Outward

Change

Family Business
strong cohesive families
Strong cohesive families
  • Commitment to each other
  • Mutual appreciation
  • Open communication
  • Spending time together
  • Spiritual wellness ability to cope with life\'s challenges

Source: Stinett & De Frain

exercises

Exercises

The three circle model

Our family

slide30

Find meaning of life

60-80

Delegate authority

60-65

Grow old while remaining young

55-60

Create a legacy

50-55

Articulate new goals

45-50

Accept own limitations

40-45

Become oneself

33-40

Engaging in a relationship

28-33

Explore opportunities

22-28

In vision ones dream

Personal life axis

17-22

age

Family Business

phases

Adapted from Levinson

slide31

Family

Business

Couple without children

Young couple

Couple with children

Family with young adults

Family with no more children

Grand-parents

Family Axis

slide34

Founder/ Owner

Sibling Partnership

Cousin

Consortium

10 questions

10 Questions

Grant Thornton Research 1999

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