Plan Now for the “Cousin Generation”

UMassby John Ward

For a year, speakers have come to the Family Business Center to say, in one way or another, that a family business thrives when family business members put business concerns ahead of family issues.

But John Ward has other ideas. In order for a business to thrive, he believes, it must incorporate the values and operating structure of the family. “The real issues are family-based issues more than business-based issues. The family is the most important place to focus our attention.”

As an example, Ward, author of Keeping the Family Business Healthy and other books, family business columnist for Nation’s Business, and Professor of Private Enterprise at Loyola University in Chicago described a scenario of a business that has several expansion choices. It could add new product lines within its current geographic territory, buy out a competitor in a foreign country, or develop new market penetration by opening up locations on its own in different parts of the country. More…

Managing Complex Family Relationships in the Family Business

 UMassRelated Matters Newsletter
Summer 1995

John F. Baugh Center for Entrepreneurship
Institute for Family Business
Baylor University

For Nancy Upton, the key to success in wrestling with the issues that arise in a family business is simple: set up formal mechanisms to grapple with the issues, and get as much as possible written down.

Upton, Director of the John F. Baugh Center for Entrepreneurship and the Institute for Family Business, both at Baylor University, spoke to the Family Business Center May 12, under the elegant crystal chandeliers and stained glass windows of the Yankee Pedlar Opera House.

Families and businesses, she points out, often have conflicting sets of needs and values. Yet, in a family business, the two areas overlap. Formalizing the corporate culture reduces the tension inherent in that overlap. More…