For many senior generation family members, decision making was simple. You wanted to do something and you did it. While all corporations are required to have boards of directors, for many family businesses their function is perfunctory.
But now, with another generation on board, the base of input has broadened. Family business governance strategies have changed – How many family members should serve on your Board? What about non-family members? Should you consider a board of advisors as well?
Transition Consulting Group helps its family business clients develop successful family business management and governance strategies, including:
- Learn the differing roles of family members, owners and directors
- Understand the difference between boards of directors and advisory boards
- Explore the implications of each
- Explore which structure is more appropriate
- Guide the process of creating, recruiting, orienting and evaluating boards.