GROUP 5

Leader: Jean Rei Boncan Members: Sean Salcedo Brisa Galarse Guen Miñoza Cezka Alit WordPress Made By: Jean Rei Boncan Edited By: Jean Rei Boncan Research: Sean Salcedo Brisa Galarse Guen Miñoza Cezka Alit

4. SUCCESSION

STAGES OF SUCCESSION IN FAMILY BUSINESS -For families in business nothing is more challenging than succession. Part of the problem is that succession is a multi-disciplinary task, involves multiple stakeholders, and is a once-in-a-lifetime challenge for most entrepreneurs. 1. Clarifying the goals and priorities Both incumbent and successor have to clarify their goals and priorities […]

3. PRACTICES

BEST PRACTICES IN FAMILY BUSINESS MANAGEMENT 1. Identify the final decision maker T his tip came from family members who came into the business from the corporate world. Often family businesses just run the business without identifying who should be focused on what and who is best to do that role. 2. Identify skill sets […]

2. COMMITMENT

TYPES OF COMMITMENT OF FAMILY MEMBERS: 1. The Mediator. -Conflict is natural and can occur in any relationship. In the family business it can be especially destructive because existing relationships between family members are so complex and intertwined. As a consequence, even small disagreements can easily poison both business and family dynamics. The Mediator is […]

1. FAMILY BUSINESS ENTERPRISE

Hi Guys! Group 5 will give you some informations about Family Business Enterprise. Work Together, makes the things Better – Jean Rei Boncan WHAT IS A FAMILY BUSINESS ENTERPRISE? – It is an economic venture in which two or more members of a family have an interest in ownership and a commitment to the […]