Does your company have a family business forum?

Does your company have a family business forum?

Even before I got involved in running my family's business, I wanted to know what was happening in the organisation, both at a strategic and operational level.

But how do we create a framework that allows family co-owners, who are not necessarily employees or board members, to follow and contribute to the management of the company?

The key words are FAMILY BUSINESS FORUM.

We should set up a formal forum adapted to the needs of family co-owners to be involved. And we should have binding guidelines that answer the following questions:

- What are the criteria for participating in the forum?

- How often should members meet - and how?

- Which topics should be discussed, according to which criteria, and at which level (strategic and/or operational?)

- How can it be ensured that the forum supports the work of the board rather than overtaking or undermining it?

- How is the board required to deal with input from the forum?

- Who maintains contact with the chairman of the board or another contact person on the board?

Would your family business benefit from a family business forum?

Contact me if you want to harness the constructive participation of co-owners.

(NOTE: This post can be read in conjunction with my post on business and family gatherings.)

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Eva Fischer Hansen

Eva Fischer Hansen

Her deep insight, yet practical advice, brings new hope and renewal to those working for family- or founder-owned businesses

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