maximizing family and business potential Aronoff, Craig E. creator Ward, John L. 1945- text xxu New York Palgrave Macmillan 2011 monographic eng

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viii, 94 p. : ill. ; 21 cm. Strong family governance can create an environment of smooth decision making, cohesiveness, effective conflict resolution and a directive that moves the business forward. Authors Aronoff and Ward show leaders why a strong governance is critical to taking families from one generation of success to the next. Excellence at your vocation, from homemaking to investment banking : excellence at any vocation requires hard work, high standards, expertise, and education : excellence earns respect -- Flexibility in your views of difficult issues : that means you have the ability and desire to listen to other points of view, an ability to empathize, and an understanding that you aren't always right : open-mindedness reduces defensiveness -- Literacy in business language and the characteristics of your industry : family members who are willing to hold themselves accountable to the business will learn how to interpret financial statements, judge competitors, and keep up with business trends : literacy eases communication -- Preparedness to understand business concerns : this means a willingness to do your homework and to study and understand the information you are given by management -- Trust in management : family members' trust in experienced, talented managers makes it easier for management to institute constructive changes, innovate and take the risks necessary to running a successful business : the more trusting family shareholders are, the greater is their capacity to strengthen the business : trust makes teamwork possible. Craig E Aronoff; John L Ward. Originally published: Marietta, GA : FBCG Publications, ©1996. Family corporations Management Family-owned business enterprises Management HD62.25 .A76 2011 9780230111066 180207 20180503183932.0