Family governance in family businesses
Publisher:
PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft
A practical overview of how family governance structures drive measurable business performance across generations.
Concrete governance tools—family meetings, shareholder agreements, family constitutions—deployed across German family businesses
28 percent sales growth for well-governed families versus 25 percent for those with weak structures, 2008–2013
Formal decision-making frameworks that convert family conflict risks into opportunities for unity and business continuity
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Year:
2015
Language:
English
Pages:
32
File Format:
Abstract
The family can be the greatest resource or the greatest point of weakness for family businesses. In recent years, business-owning families have increasingly turned to “family governance” to ensure it is the former rather than the latter that applies to their family. For example, the number of families using a family constitution to cover key aspect of how to organise family and business has risen by 40% since the last PwC/INTES survey in 2011.
This is the first study to look at the impact of family governance mechanisms on family cohesion and business performance. It reveals that a professional, responsible organisation
of the business-owning family has a positive impact on the family’s adaptability and openness to change. The family and the business benefit equally.
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