Issue | DateLorem Ipsum
To open a shop is easy, to keep it open is an art Chinese
Proverb Thought of the DayCIG Family Business Consulting are
experts in all the complexities of family businesses. CIG Family
Business Consulting can help with any aspect of your family
business from inception to succession planning. Every single family
business has different requirements, some are run simply as a
lifestyle business and some are run as multinational corporations.
But whatever the size and model of your family business CIG Family
Business Consulting are the only people to talk to, to help advise
and to improve your family business. We are there to work with you
to make your family business as successful as you want or need it
to be. No stone will be left unturned in ensuring that your
business is a total success. By using CIG Family Business
Consulting your life be it business or personal will become that
much more rewarding.
Please call us on +44(0)845 201 3960 for more information.
Family Business Consulting
Families are from Venus, Businesses from Mars- Alan BarkerIn
order to keep the family business flowing smoothly it is essential
to promote non- family members to senior roles. This move will
allow a family to take their business to the next level and will
eliminate emotionally charged decision-making.
page 3more on 2Levy Family DebacleRobert Levy makes rash
decision to stay in company A Slice of Advice
+
+Issue 2 / May 1, 2015Family Business Daily
Coming together isa beginning. Keeping together is progress.
Working together is success- Henry Ford
Family Businesses are a unique breed. A majority of family
businesses often blur the line between family matters and the
business itself; this in most cases is the reason behind a
businesss downfall. There are many factors that are affected
negatively when intertwining family and business. For example, in
regards to succession longevity can overrule skills and cause the
parents of the business to choose the eldest son over the more
qualified and younger daughter. In many cases children are
unqualified and appointed a senior position within the company,
this move can cause demotivation amongst valued non-family members.
Coming from a family business can allude family members into
thinking they are entitled to excessive perks within the business.
The business is wrongfully abused as a checkbook to purchase
unnecessary lavish items instead of respecting the differentiation
between compensation and company revenues. Furthermore in regards
to compensation, many family members are wrongfully awarded the
same remuneration regardless of their position and skills; this
move can also negatively impact the success of the company. Poor
communication is also a colossal mistake in a family business
environment. In order to avoid conflict and maintain harmony
amongst family members many issues regarding the business are
disregarded and can result into resentment within the workplace in
the long run. A family run business must always remember to
separate family members to ensure the longevity of their business.
It is important to make decisions without emotional attachments. If
your children are not yet qualified there is no harm in hiring a
non- family member to run the company till your child is ready. It
is important to keep personal and business spending separate and
compensations based on performances. Lastly, communication is key
for a family business to be successful. (If you are having any of
these issues with your family business please do not hesitate to
hire a consultant as the one advertised in the page above)
dddsdFamily First or Business First?
Today during a family meeting in regards to succession the
eighty-year-old Roger Levy makes a shocking announcement. He has
decided to stay in charge of Ilapak and has taken over an American
competitor that is swimming debt. Despite his questionable health
he has revoked Lucianos role as successor and has appointed him and
his son Guy to take care of matters in America while he runs the
European division. Despite her shock at her fathers irrational
move, Sabrina has decided to stay out of the picture. What does
this mean for the family? Many consultants interpret Rogers move as
a typical move made by first generation company owners with an
emotional attachment to the business. Sending Luciano and Guy into
America gives him full control to make all decisions without any
barricades. If the move is finalized Ilapak, a once leader in
packaging, may finally face its downfall. Maheen Khan a family
business consultant believes this move may not only cause a family
dispute but will also negatively impact the companys internal
structure and cause employees to seek for jobs elsewhere. 80 Year
Old Owner Shocks FamilyRoger Levy & Ilapak+
3Dolor Sit Amet