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Selected Case

published: 21 Mar 2008

  • Topic: Family Business
  • Region: Global

Abstract:
Andrew Whiteside and his five siblings, owners of a family business, have staged a semi-annual family meeting to review business results with all blood relatives over 21. With the next meeting coming up, many different perspectives and emotions are starting to appear within the senior and next generation. While some people feel these meetings are very effective, others are concerned that the existing family forum may be creating more problems than solutions because difficult issues, like board seats or family compensation, are not discussed. What can be done to improve communication?

Pedagogical Objectives:
This case allows us to understand the purpose of a family meetings, and the need to establish a structure that encourages family participation in planning, problem solving and decision making. It also deals with next generation problems and recognition as well as rules to develop the meeting into a formal council.

Keywords:
Family Meeting, Next Generation, Family Meeting Members, Family Council, Communication in Family Business, Family Business, Corporate Governance, Corporate Governance for Family Firms, Corporate Governance, Corporate Governance for Family Firms, Wicfe, Fair Process, Communication, Psychology, Gender, Governance, Parallel Planning, Strategy, Boards


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