Hopefully, because they can both support and undermine the family of owners. This is not new knowledge. However, many family businesses could benefit from focusing more on how the owners
You may disagree. But read what I mean and you'll probably end up agreeing with me. Because yes, you can very well involve
It's easy to imagine situations where not everyone in the owning family should have a say in the running of the family business. For example, discussions in the extended family often turn into arguments,
You've probably heard this statement before. But is there any truth or value in it when we're talking about the relationship between members of the ownership family who are in different
But we need to listen to them and not force a future in the company on them. It's a fact of life. Few family businesses have the time to
As advisors, we need to recognize both our strengths and limitations. Otherwise, we fail our customers
It often takes many disciplines to run a successful business, so when a company needs advice, it's not surprising if the need includes input from several
Do you know the management consultant who is SO good that she doesn't need to listen to her clients?
I don't. He or she exists only in his or her self-awareness. Of course, the skilled management consultant comes with skills, strategies and tools that are proven to work - and a
Hopefully, the answer is a resounding yes. Family businesses have a unique opportunity to execute long-term strategies that are 100 percent value-based. Strategies that can make your business
Explanation follows. A family of owners has very little chance of finding the right family advisor if there is a high level of mistrust in the family dynamics. Even before the counselor arrives on the scene, there is
It's important to do this. Because maybe you're making financial progress in your business. Maybe everything seems to be running smoothly with your customers. But even if you've been
The question reflects a puzzlement I sometimes encounter from people who advise family businesses without knowing much about their specific characteristics. Actually, I can understand their puzzlement. Because
When family businesses experience crisis and conflict, they are often reluctant to invite advisors in. The argument can be that an outsider would find it too difficult to understand the dynamics
The answer may seem obvious. And then it's not so straightforward after all. What if you're struggling with cash flow? Couldn't it work just as well
This should be a premise when family businesses hire external managers to run and develop the company. Because hiring outsiders may be necessary. But the owning family must ensure that
We can make the family business attractive to the next generation. But we need to listen to them and not force a future in the business on them. That's the
Not the same as men, and not the same as what's on offer. At least not one-to-one. But I would still argue that women are neither opting out of boards nor
The winds of change are blowing. A quota law on gender balance on boards may soon become a reality. In
Norway, gender quotas have been a reality since 2006.
Quotas for women on boards are problematic. But not as problematic as the consequences of not introducing them. This is how I - without any enthusiasm - have come to view it.
Has your company helped Ukraine - and told people about it? Lego and Bestseller have done something remarkable. They have donated hundreds of millions to relief organizations that help Ukrainians affected by war.
There is no doubt. If family owners are to maintain healthy relations, it is important that all family members feel that they are being treated fairly when it comes to money.
That may sound dramatic. But after a generational change, with the new generation taking over the reins, that could be the result. Fortunately, the owning family can prevent this situation from happening.
Owner-families should respect formal decision-making processes Many family businesses have a board and day-to-day management made up of
a mix of family owners and people with no family ties to the business.
"Why does she always get the attention?" The question is probably as old as humanity. When humans began to hunt and kill primordial cows, we worked in cohesive groups. But when the clan gathered around the camp fire at night, only one person could boast about throwing that last spear that made the kill.
Is your family business acting out its core values? Hopefully, the answer is yes. Indeed, family businesses have a unique
opportunity to execute long-term strategies that are completely
This is what today's Berlingske (a large Danish newspaper) says about my condition after the sale of Brunata, the company that my family and I sold for almost 600 million DKK.