Building Family Business Champions
provides a theoretically sound and practical framework for understanding the challenges that family businesses face. Drawing on three decades of consulting with more than 250 companies, their own experience running a family-owned firm, and sound research, Eric G. Flamholtz and Yvonne Randle explain that the success of these companies hinges upon the dual management of family functionality and the company's infrastructure. They present a set of managerial tools for planning, structuring the business, measuring performance, and managing culture.
After laying this groundwork, they attend to issues that uniquely pertain to these companies, such as succession and the challenges of familial dysfunction. Finally, the book offers a set of short self-assessments that can be used in any family business. Richly illustrated with stories of companies at various stages of growth from around the globe, this book provides a comprehensive guide for building businesses that thrive from generation to generation.