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

Stepping down: thoughts from a retiring leader

Blog 041_Fields_and_car_lo_square_resized

Succession, transition, change, transformation, adjustment – retirement! There’s a lot to think about as I step down from my role as Vice Chairman at Deloitte UK.

Having spent many years working with families and helping them through the challenges that succession brings, I am now finally doing it for myself. As I approach the end of a long career at the firm, I’d like to share my personal experiences as well as those that I have previously seen in a professional capacity.

Continue reading

Posted on 24/05/2017

Beyond ‘to join or not to join’: creative strategies for next generation involvement

  Blog 038_xx

 

At some point in time, many next generation family members will have a decision to make about whether or not to join their family business. This can be an extremely difficult choice, not least because of the tension between the opportunities afforded by family businesses and their inherent complexity.

Continue reading

Posted on 18/05/2017

Family compensation – a cause for conflict?

 Blog 037_resized

This week, Niall Glynn, a partner with Deloitte in Ireland, discusses the compensation of family employees.

For family employees in family businesses, compensation can often be one of the primary causes of conflict. It is extremely important to have clear parameters for reward and avoid basing compensation decisions on emotive criteria.

Continue reading

Posted on 26/04/2017

When culture matters: succession challenges for Asian business families

Blog 035_ ind_er_glb_ho_1964_resized

This week, Tam Chee Chong and Cathy Chow from Deloitte in Singapore discuss the effects of Asian culture on succession in Asian business families.

Asia’s business families are in the midst of experiencing unprecedented generational change; the majority are transitioning their businesses from first to second generation, and some are making the transition from second to third generation. For many, family values, underpinned by culture, are one of the most influential factors impacting succession planning and the decisions made on that journey.

Continue reading

Posted on 12/04/2017

The dangers of the internet

Blog 032_ind_TMT_glb_ho_2338_RESIZED

This week, Eefje Chalmers, a family business advisor with Deloitte Netherlands, considers the potential impacts of using technology on families and their organisations.

The internet is one of the greatest inventions. Few other things have so radically shaped culture, media, commerce, entertainment and communication. But as with many things, these benefits can have a downside, especially where family, wealth and business collide.

Continue reading

Posted on 29/03/2017

Dealing with family conflict

Blog 034_shutterstock_8319214_lo_RESIZED

This week, Joanne Whelan, a partner with Deloitte in Ireland, looks at conflict in family businesses.

It is no secret that family businesses are complex. This complexity arises from a mixture of family chemistry, diverse family priorities, and the organisational challenges and opportunities which most businesses face. It can often lead to a degree of conflict in family businesses - lines may be more easily crossed and disagreements can become more heated, and personal relationships with family members can cloud judgement when it comes to making business decisions.

Continue reading

Posted on 15/03/2017