The Super Bowl matchup is now decided with the two Harbaugh brothers once again facing each other. This time it’s in the ultimate contest; the Super Bowl. Sports are filled with rivalries, but what happens when you add siblings to the rivalries. This article describes many of the high-profile sibling rivalries in sports including the Manning brothers and Williams sisters.
There are a lot of hidden benefits of philanthropy, including employee morale and improving the connection between management and the employees.
As our family businesses become more successful we need to go beyond the role of the controller and hire a key financial person. For small businesses it’s hard to justify an exclusive financial position so many firms add operations or IT and other key responsibilities to the position.
A quick read of survey results on family business succession planning, by Bank of America’s wealth management division.
We know how important it is for family members to gain outside work experience before joining the family business. This is a company that actually practices this idea.
“When family is involved in your business it can be a wonderful thing. However, the lines between professional and personal can blur if relationships are not managed properly.”
How do you let your parents know you aren’t interested in working for the family business?
It can be awkward for a family member to manage an older employee in the family business. Add to that, a high profile NBA franchise, the Miami Heat, and a celebrity Pat Riley, and you have quite a challenge. The Miami Heat family owners have done an effective job managing this relationship by allowing non-family key executive Pat Riley to be the public face of the franchise while the family remains content in the background.
“Entrepreneurs face steep odds in terms of successfully keeping their business in the family over the long term. Six entrepreneurs share their experiences-often wrought with emotion-while imparting lessons learned.”