Developing a Cutting-Edge Strategic Plan that Achieves Cross-Generational Approval

Developing a Cutting-Edge Strategic Plan Northeastern University
that Achieves Cross-Generational Approval

Family Business Quarterly

For family businesses, strategic planning “can be an exciting, compelling, energizing concept that sets your company free­-a process that’s not designed to lock doors, but to open locks.” But developing a successful plan hinges on anticipating and managing the roadblocks that come with family ownership.

So said Barbara Shomaker, President of Accord Limited, a Chicago consulting firm, who recently presented a workshop on “Strategy: Planning, Design and Implementation” during an Executive Breakfast sponsored by the Northeastern University Center for Family Business. Shomaker provided a detailed written framework for family business leaders wanting to develop strategic plans, paying special attention to the challenges of developing plans for businesses that are family-run. More…