Changes in management are often met with a number of obstacles. In order for the transition to be successful, it is important that your family business knows how to adapt. A change in management isn’t just inevitable—it’s essential for the success and continuity of a family-owned business. This is why succession planning is so important. […]
Last month the FBC, in conjunction with FBN-NA, hosted a conference: From Risk to Resilience. Our speakers touched upon many topics relating to risk management in a family business. Froma Walsh, PhD, shared insights on what it means to build resiliency in a family business, and how to approach a crisis as an opportunity to […]
This blog post is inspired by a FBN-NA webinar, Cyber Threats: Could Your Family Be Hacked? The speaker of the webinar, Edouard Thijssen, highlighted important things you should know about cyber security, and we figured we’d share them with you.
A cyber-attack is an attempt by hackers to damage or destroy a computer, computer system or electronic communications network. Identity […]
In anticipation of this Thursday’s annual Women’s Networking Event, we wanted to introduce our Event Hosts and ask them a few questions on family business, career challenges, and what they think it takes for women to become stronger, more confident leaders in the workplace.
Michelle McCaskey (G4), Chicago Bears
Michelle has spent most of her career in […]
Family businesses deal with challenges that every other business must face on a daily basis. However, unlike non-family run companies, family businesses must also deal with family issues that can make difficult business matters even more complex. For this reason, it’s especially important to watch out for the three pitfalls that undermine healthy conflict resolution: […]
In-laws in the Family Business: Using an Accountability Matrix to Integrate In-laws into the Business
In-laws can provide more benefits to the family business than one may think. In our previous blog post about in-laws, we discussed how to improve relations between in-laws and family members. In this post, I’m going to get specific and talk about how to use an accountability matrix as a tool to analyze an in-law’s […]
Generally speaking, many would agree that marriage is associated with feelings of happiness, love, devotion, and commitment. However, within a family business, wedding bells can sound less like a celebration and more like a warning. There’s no doubt that marriage is critical to the continuity of a family business and the parenting of future generations. […]
As the holidays are upon us, the spirit of giving is in the air—especially for family businesses. A unique characteristic about family businesses is that they hold philanthropy to a very high standard, and not just around the holidays. A family business’s reputation is based on the support they receive from their community, as well […]
Today’s media focuses too often on negative stories of family business: the feuds, the rivalries, the breakdowns, and the drama. This is the side of family business that, more often than not, is fed to society. There’s no denying that family businesses have their challenges. They do. But family businesses also come with a number […]
Emotional intelligence- EQ- the indicator of self-awareness, self-management, social awareness, and relationship management. The importance of emotional intelligence is often underestimated, but it shouldn’t be. Emotional intelligence is a critical component of interpersonal and professional effectiveness. Knowing how to leverage emotional intelligence can help utilize creativity and create a broadened perspective to increase effectiveness in […]