Cousins and beyond: fostering unity as family and business grow

  Blog 053_env_glb_ho_2265_resized

This week Niall Glynn, a partner with Deloitte in Ireland, considers the challenges of encouraging engagement in multi-generational family businesses as the family expands. 

I was recently at a client meeting where we were discussing the future evolution of Board membership across the second and third generations of a family business. Over the course of the meeting, it became apparent how little the third generation (the future directors) really knew each other, or had much of a connection with the business. The only shared memories they had revolved around distant interactions as children, and more recent ad-hoc interactions at family weddings as adults. 

Continue reading

Posted on 02/05/2018 | 0 Comments

Cyber risk – don’t be alarmed, be prepared

Data cables resized ind_TMT_glb_ho_2361

Practical steps now to support a strategic approach

It’s a familiar warning: the exponential growth of digital technologies is exposing us all to more and new kinds of risk and we all need to ensure that we protect our assets and reputation from attack.

Continue reading

Posted on 04/04/2018

The family holding company

  Blog 051_shutterstock_397123759_lo_resized

Many family businesses wrestle with matters of ownership and control – how should the family shareholders control, or influence the running of the business? How do you manage relationships between family members in the context of the business? How can family members ensure appropriate access to information on the business without “interfering” with day to day management?

Continue reading

Posted on 28/02/2018 | 0 Comments

Reflections on 2017

Reflections image

It’s hard to believe that 2018 is almost upon us, and that a year has passed since our last festive round-up. We’ve had some wonderful contributions from our authors this year, and once again it feels fitting to take a moment to look back on the past 12 months and reflect.

Continue reading

Posted on 20/12/2017

Recommended holiday reads (and a TED talk) for enterprising families

Blog 48_Michelle Osry

This week, Michelle Osry, a partner in Deloitte in Canada, suggests two books to add to your holiday reading list, and a TED talk for further inspiration.

What can family enterprises learn from the Dalai Lama? Can conflict be reduced to an equation? How can we find lasting joy in this world?

Continue reading

Posted on 06/12/2017

Next-generation communication in a digital age

Lucy_comms in digital age_cropped

The digital age

With Facebook, Instagram, Snapchat, WhatsApp, text, email and smartphones, it seems it’s never been easier to stay in touch. But despite this, finding the time to talk face-to-face and really build relationships has rarely seemed so difficult. It’s a cliché, but for good reason: we spend so much time talking in the modern world that it can be hard to hear what’s actually being said.

Continue reading

Posted on 18/10/2017 | 0 Comments

The value of reflection

Blog 045_Rudolf_value of reflection_RESIZED

This week, Rudolf Janssen, a Director with Deloitte in the Netherlands, and Hugh Pickering, a Consultant with Deloitte in the UK, talk about the value of stepping back with families to reflect on the process of planning for generational transition.

Discovery, alignment, transformation

When family enterprises undergo successful and sustainable change during times of generational transition, we find that there are three important phases that they must go through, which we refer to as: discovery, alignment and transformation.

Continue reading

Posted on 23/08/2017

Talking about money

Blog 042_Lucy-shutterstock_145915157_-_pound coin RESIZED

Talking about money

I was recently working with a family client when the conversation became rather animated while discussing money. Most of the members of this particular family viewed money in a positive light; as a means to an end, the ability to make choices, the ability to make a difference, a medium of exchange etc. However, for some, money might be viewed as the cause of conflict, the ruin of family life, the lure of the forbidden and the priority of their parents.

Continue reading

Posted on 26/07/2017 | 0 Comments

Leading a family business in a disruptive environment

Blog 040_EMEA study_shutterstock_252533746_lo_RESIZED

 

In the numerous conversations I have had with both the current and next generation of family business leaders and their families, we have discussed topics as diverse as the smooth transition of leadership from one generation to the next, family charters, setting up family offices, tax and estate planning, growth, strategy, and the overall speed of change in the market.

Continue reading

Posted on 12/07/2017 | 0 Comments

The art of balancing honesty and diplomacy in the family business

  Blog 039_Collaborating_hands_lo_resized

This week, Walid Chiniara, a partner who leads the Family Enterprise Consulting practice in Deloitte in the Middle East, discusses the delicate act of communication in family businesses.

As a family business advisor, I have observed numerous interactions between family members as owners and employees of their family business.

Continue reading

Posted on 21/06/2017