Successful Family Meetings:
A Critical Foundation for Business Longevity
Family Business Quarterly
One of the best ways for keeping family members committed to their companies, as well as dealing with the inevitable conflicts that get in the way of long-term success, is to hold regular family meetings, argued Drew S. Mendoza, Program Director of the Family Business Center at Loyola University, Chicago.
Mendoza recently traveled to Boston to lead a Half-Day Forum on “Holding Family Meetings: The Whys and the Wherefores” for NUCFB members. Through presentations and small-group discussions, he provided guidelines for “winning at family meetings” to enhance the family spirit that he termed “critical” to keeping the business alive across generations. More…
Credibility for the Family Business
Family Business Forum News
by Jim Klaes
“Business is simple,” Tom Monroy told students and others in McNeill Auditorium at UTEP’s College of Business this past June.”We over-think and make it harder than it has to be,” said the Ph.D. from Baldwin-Wallace College.
“I myself learned everything I needed to know from my grandmother, who started our family business,” be said.”It was not until 1943,” he pointed out, “that Harvard Business School taught the first course…ever…in general business management.”
Monroy named six disciplines a company leader must have to establish credibility: discovering personal strengths and weaknesses, appreciating those who do the work and supply the goods, affirming shared values, developing capacity (of the individuals and, therefore, the company), serving a common purpose, and sustaining hope that the shared goals will be achieved. More…