Family Governance and its importance for the preservation of harmony and family legacy

Introduction:

• As if by magic, some families combine an ambitious vision, entrepreneurial spirit and a strong character, with a little luck, to create a successful company.
• Most family businesses face a critical situation when they must systematize their “magic” in a way that allows them to continue growing.
• Mature family businesses need governance bodies, a solid management platform and a performance evaluation system, and they must implement this structure without losing their competitive advantage.
• Simplicity and flexibility are essential so that governance mechanisms can be easily accepted by the organization and evolve with the family and the company as their needs change.
• Detection of leadership in family members, communication and discipline in conflict resolution play an important role in achieving and implementing effective family governance.

On this occasion, we will delve into the importance of having a Family Governance System and share some tips on how to start its implementation.

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