What Can You Do To Ensure Continuity?

January 14, 2020 00:16:38
What Can You Do To Ensure Continuity?
The Family Business Voice
What Can You Do To Ensure Continuity?

Jan 14 2020 | 00:16:38

/

Show Notes

George Isaac’s book, Your Business, Your Family, Your Legacy: Building a Multigenerational Family Business That Lasts, demonstrates that family businesses foster strong communities by instilling positive family values. These values strengthen not only the bonds between family members but also those they share with their employees – a unique competitive advantage.

Isaac sat down with Ramia to share his insight through a nine-step programme designed to ensure the continuity of family businesses. He advocates:

– Setting clear expectations and defining each family member’s role

– Formalising employment and shareholder agreements with binding documentation

– Planning a fulfilling retirement

– Differentiating between corporate governance and family governance

– Revising strategy to take advantage of market opportunities

– Mitigate risk by creating contingency plans

– A willingness to restructure and change personel

– Developing future leaders

– Clear communication with all stakeholders

Listen on Spotify, Apple Podcasts, Google Podcasts, Stitcher and TuneIn.

Also, read the full article here.

Other Episodes

Episode 0

February 11, 2022 00:24:53
Episode Cover

How is this 2nd Generation Family Legacy Changing the Malaysian Security Industry?

On this episode of the Family Business Voice, Saliza Abdullah, Managing Director and CEO of BG Capital Holdings, talks about her journey at the...

Listen

Episode 0

March 15, 2022
Episode Cover

How Did This Family Transform a Passion for Peanuts into a Multigenerational Legacy?

On this episode of the Family Business Voice Ramia speaks with Marshall Rabil, third generation owner and Marketing Director of Hubs Peanuts. See the...

Listen

Episode 0

November 11, 2021 00:20:56
Episode Cover

Made Sustainably: How did this Filipino Family Business Disrupt Manufacturing?

When Pete and Cathy Delantar established Nature’s Legacy in 1986, sustainability wasn’t the buzzword that it is now. In the Philippines, very few people...

Listen