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Family Communication How We Talk to Each Other Monday, November 5, 2007. Goals This Afternoon Understand family and business meetings Learn how to establish a Family Council Strengthen family communication skills. Starting Point Who has a regular, structured Board meeting? - PowerPoint PPT Presentation
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Family CommunicationHow We Talk to Each Other
Monday, November 5, 2007
Goals This Afternoon
Understand family and business meetingsLearn how to establish a Family Council Strengthen family communication skills
Starting Point
Who has a regular, structured Board meeting?A Family Council Meeting?What does your family need to talk about?
AMERICAShirtsleeves to shirtsleeves in three generations
MEXICOFather-MerchantSon-PlayboyGrandson-Peasant
ITALYFrom the stables to the stars and back to the stables in three generations
CHINAPeasant shoes to peasant shoes in three generations
CANADA
Opportunity to learn fromfamilies around the world
Whats the Problem?
The Three Circles
OwnershipBusinessFamily
Conflicting Purpose
Resistant to changerelationships Exploit change
Governance
The processes, principles, structures and relationships that help organisations realise their vision and objectives.
Managing ComplexityThree separate governance structures within one family business system:
1. Family organisation2. Business organisation3. Shareholder organisation
Purpose
OwnershipBusinessFamilyBuild and continue enterpriseProfessionalise family culture, activities, valuesRecognise and resolve shareholder issues
Starting PointFamily Governance
1. Address the issues and assumptions2. Create a family governance structure:Family ConsitutionMission StatementFamily Council3. Maintain regular communication:Retreats4. Spend quality time together5. Monitor progress
Complex Relationships
Five people, 10 relationships
More Complexity
Nine people, 36 relationships
Complexity in the Family SystemSuccessor asks father about retirement plansFather sees son as a threatFather criticises sons work performanceSon sees Father as out of touchSon convinced that father should retireSon talks to other family members
Communication Skills
We do not see things as they are; we see things as we are. We do not hear things as they are, we hear them as we are.
The Talmud
Start the Discussion
UNSPOKENSPOKENDISCUSSIBLE
Use Active Listening Skills
AttendingInquiryRestatingAcknowledging
Speak from Your Perspective
Use I statementsState what youve observedDescribe the impact on youAsk for what you need
Build on Strengths
What works well now?What are common values?What are areas for improvement?
Guidelines for Family Meetings
Define responsibilitiesHow are members appointed/retire?How does the group agree?How does it relate to other entities?Length of officeHow decisions are recordedMust have a chairperson
Agree how to Agree
Types of Family Business
Owner ManagedSiblingPartnershipGolfTennisFootballc. John Ward PhDCousin Syndicate
Setting up a Family Council
StructureObjectivesInclusiveness
Create Structure
Schedule regular meetingsFormal AgendaRotating ChairBring in outside expertise
Set Objectives
Become a learning familyPromote family discussionDefine family values, mission, visionBuild trust and understandingDevelop decision-making processKeep family members informed
Be Inclusive
Consider extended familyEncourage participationTrack attendanceEnsure equal playing field
The best way to predict the future is to create it.
Peter Drucker
How to Reach Us
Jennifer EastFounderONIDA Coaching + Consulting Inc.396 Brunswick Avenue, Unit 2Toronto, Ontario, CanadaM5R 2Z4
T: 416 922 8973F: 416 922 9629E: jennifer@onida.caW: www.onida.ca
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