Topics of Family Business Governance: Insights on Structures, Strategies, and Executives (Management for Professionals)

This book focuses on the role of the board in family businesses and specifically on processes and topics of strategic importance. It comprises all the relevant topics which need to be addressed on a regular basis such as strategy development, financial management, and leadership. The pros and cons of each issue are elaborated. This is one of the few books which addresses family businesses from governance systems to the role of executives. The diverse set of examples carefully collected by the authors and an in-depth discussion on the topics provide readers with valuable insights to broaden and enrich the effectiveness of governance. Front Matter ....Pages i-xiii Front Matter ....Pages 1-1 Introduction (Hermut Kormann, Birgit Suberg)....Pages 3-4 Exploring the Topics of Governance (Hermut Kormann, Birgit Suberg)....Pages 5-7 Modules and Tasks of Governance (Hermut Kormann, Birgit Suberg)....Pages 9-14 One-Tier and Two-Tier Boards (Hermut Kormann, Birgit Suberg)....Pages 15-17 Design Parameters of a Board for Family Enterprises (Hermut Kormann)....Pages 19-22 Governance for the Lone Founder (Hermut Kormann, Birgit Suberg)....Pages 23-25 Agenda Setting: Clarifying the Strategic Situation and the Challenges (Hermut Kormann, Birgit Suberg)....Pages 27-30 Monitoring: We Need Meaningful Data (Hermut Kormann, Birgit Suberg)....Pages 31-35 The Difficult Task of Advising (Hermut Kormann, Birgit Suberg)....Pages 37-43 To Create a Sense of Urgency (Hermut Kormann, Birgit Suberg)....Pages 45-49 The Board’s Key Role During a Crisis: Such as COVID-19 (Joseph H. Astrachan, Andrew Keyt, Hermut Kormann, Claudia Binz Astrachan)....Pages 51-56 Front Matter ....Pages 57-57 The Key Issues of the Family Enterprise’s Strategy (Hermut Kormann)....Pages 59-66 Profits as the Basis of Strategy (Hermut Kormann)....Pages 67-70 Investments Strategy for Stability and Development (Hermut Kormann, Birgit Suberg)....Pages 71-74 Innovation Strategy for Renewal and Growth (Hermut Kormann, Birgit Suberg)....Pages 75-78 Patterns of Family Enterprise’s Growth (Laura K. C. Seibold)....Pages 79-86 Avoiding Unacceptable Risks (Hermut Kormann)....Pages 87-90 Compliance and Environmental Protection: CSR in Family Enterprises (Hermut Kormann, Birgit Suberg)....Pages 91-92 Recession Management for Coping with Economic Cycles (Hermut Kormann)....Pages 93-95 Fighting Financial Squeeze (Hermut Kormann)....Pages 97-98 The Trade-Offs of Mergers and Acquisitions (Hermut Kormann)....Pages 99-103 The Trade-Offs of Going Public of Family Enterprises (Hermut Kormann)....Pages 105-109 Profit Distribution Policy in Family Enterprises (Hermut Kormann)....Pages 111-115 Front Matter ....Pages 117-117 Developing Responsible Owners in Family Business (Joseph H. Astrachan, Torsten M. Pieper)....Pages 119-126 Development of Executives in Family Enterprises (Birgit Suberg)....Pages 127-132 Challenges and Benefits of Sibling-Consortium in Management of Family Enterprises (Hermut Kormann, Birgit Suberg)....Pages 133-135 Preparation for Succession in Family Enterprises (Hermut Kormann)....Pages 137-142 The Challenges and Benefits of Non-family Management in Family Enterprises (Hermut Kormann, Birgit Suberg)....Pages 143-147 Professional Executive Search for Family Enterprises (Hermut Kormann, Birgit Suberg)....Pages 149-150 The Trade-Offs of Incentive Programs in Family Enterprises (Hermut Kormann, Birgit Suberg)....Pages 151-154 The Family Is the Destiny of the Enterprise (Hermut Kormann, Birgit Suberg)....Pages 155-157