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When Family Businesses are Best

Part of the A Family Business Publication Book Series

DOI: 10.1057/9780230294516

ISBN: 978-1-349-30818-7

Publisher: Palgrave Macmillan UK - Springer Journals

Oct 2, 2015

1 - 10 of 10 Chapters

LitStream

Why Family Businesses Struggle

Carlock, Randel S.; Ward, John L.

Pages: 3 –27

[Dysfunctional, prone to nepotism and family conflict, uninterested. This is how family businesses are often seen. Even in the business press, the family business model is regularly portrayed as outmoded or problematic. However, recent evidence shows that family firms tend to outperform their...
LitStream

Making the Parallel Family and Business Planning Process Work

Carlock, Randel S.; Ward, John L.

Pages: 28 –49

[All organizations need planning to survive, grow, and sustain themselves. Businesses are forced to plan by competitive pressures, customers, suppliers, taxes, banks, joint ventures, or acquisitions. Businesses can plan reactively by making changes based on competition, adaptively by making...
LitStream

Family Values and Business Culture

Carlock, Randel S.; Ward, John L.

Pages: 53 –82

[The importance of family business values was clearly demonstrated by Whitney MacMillan, the last family CEO of Cargill, when he stated, “As a company, we have believed in the same values for 125 years, even though we have changed the business every five years.” It is natural to explore family...
LitStream

Family and Business Vision: Exploring Family Commitment

Carlock, Randel S.; Ward, John L.

Pages: 83 –102

[“We will build stores in small, rural towns-skipping the major cities-and overtake Sears within 30 years.” When Sam Walton uttered these words to a small group of trusted employees, few people outside of Arkansas believed that Walmart had much of a chance of displacing Sears as the world’s...
LitStream

Family Strategy: Planning the Family’s Participation

Carlock, Randel S.; Ward, John L.

Pages: 105 –130

[Five years ago the Wates Group was facing a dilemma. One of the UK’s oldest and largest construction groups, it had been controlled by its founding family for more than a century. But now the five senior family leaders and owners were beginning to contemplate retirement. While several members of...
LitStream

Business Strategy: Planning the Firm’s Future

Carlock, Randel S.; Ward, John L.

Pages: 131 –156

[A few years ago “Anheuser-Busch acquires Interbrew” would have been the expected headline announcing the consolidation of the global beer industry. Anheuser-Busch, the world’s most powerful brewer, was well positioned to lead an industry consolidation with its strong stock price, 50 percent...
LitStream

Investing for Family Business Success

Carlock, Randel S.; Ward, John L.

Pages: 157 –172

[We have all heard the old maxim about how the first generation makes it, the second generation protects it, and the third generation spends it. Around the world there are similar expressions to communicate this three-generation pattern of business growth, investment maturity, and harvest: shirt...
LitStream

Family Business Governance and the Role of the Board of Directors

Carlock, Randel S.; Ward, John L.

Pages: 175 –195

[Ten years ago when Waleed Al Said, aged 68, became CEO of the World Trading Company, he organized a management board that included: his older brother Hammad, 72, the former MD, as chairman; his younger brother Hussam, 64, a sales director for the last 20 years; Khaled, a cousin, 59, chief...
LitStream

Family Governance: Family Meetings and Agreements

Carlock, Randel S.; Ward, John L.

Pages: 196 –222

[The following newspaper report tells the story of a nightmare caused by weak family and business governance that allowed an ownership conflict to turn into a lawsuit that eventually led to a judge splitting the business’ assets and ownership.]
LitStream

The Men and Women Who Plant Trees

Carlock, Randel S.; Ward, John L.

Pages: 225 –234

[Exactly a century ago on the bare contours of the southern French Alps, one man began to plant trees.]

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