Developing Family Business Policies

1. Front Matter

   Pages i-vii

   PDF

2. Introduction

   • Craig E. Aronoff, Joseph H. Astrachan, John L. Ward

   Pages 1-6

3. What Policy Making Can Do for Your Family and Your Business

   • Craig E. Aronoff, Joseph H. Astrachan, John L. Ward

   Pages 7-14

4. How to Develop Your Policies

   • Craig E. Aronoff, Joseph H. Astrachan, John L. Ward

   Pages 15-34

5. What Policies Do You Need? And When?

   • Craig E. Aronoff, Joseph H. Astrachan, John L. Ward

   Pages 35-47

6. Shareholder Agreements

   • Craig E. Aronoff, Joseph H. Astrachan, John L. Ward

   Pages 49-54

7. Other Policies to Consider

   • Craig E. Aronoff, Joseph H. Astrachan, John L. Ward

   Pages 55-65

8. One Policy, Two Ways

   • Craig E. Aronoff, Joseph H. Astrachan, John L. Ward

   Pages 67-78

9. A Word about Implementation

   • Craig E. Aronoff, Joseph H. Astrachan, John L. Ward

   Pages 79-81

10. Summary

    • Craig E. Aronoff, Joseph H. Astrachan, John L. Ward

    Pages 83-84

11. Back Matter

    Pages 85-104

    PDF

Developing policies to guide decision making can help the family business avoid serious problems. The authors provide a step-by-step process for engaging family members in developing policies which cover issues such as: dealing with conflicts of interest; retirement timing; distribution of profits; loan programs; compensation and succession.

• business
• conflicts
• family business
• Shareholder
• success

'Developing Family Business Policies: Your Guide to the Future is a must-read for any business owning family that is trying to sort through the challenges of family business continuity. It gave us information that helped us select and construct policies that fit our speicific family business needs.' - Arthur R. Velasquez, President & CEO, Azteca Foods, Inc., Chicago, IL

'We are a family business that has grown and is maturing by learning and putting to use the principles in Family Business Policies: Your Guide to the Future.' - Jack and Dolores Cakebread, Cakebread Cellars, Napa Valley/Rutherford, CA

'Family Business Policies: Your Guide to the Future gives families a clear road map for creating business policies. It raises all the right questions. I will recommend it to our family and professional advisory clients alike.' - Judy Rudnick, Family Office Exchange, Oak Park, IL

CRAIG E. ARONOFF Co-founder, Principal, and Chairman of the Board of The Family Business Consulting Group, Inc., the founder of the Cox Family Enterprise Center and current Professor Emeritus at Kennesaw State University, USA. He invented and implemented the membership-based, professional-service-provider sponsored Family Business Forum, which has served as a model of family business education for universities world-wide.

JOSEPH H. ASTRACHAN Principal in the Family Business Consulting Group, Inc., Wachovia Eminent Scholar Chair of Family Business, Professor of Learning and Professional Development, and Director of the Cox Family Enterprise Center at the Coles College of Business, Kennesaw State University, USA. In addition he is Distinguished Research Chair of Family Business at Loyola University Chicago's Business School, USA.

JOHN L. WARD Co-founder of the Family Business Consulting Group Inc. He is Clinical Professor at the Kellogg School of Management, USA and teaches strategic management, business leadership and family enterprise continuity.

Policies and ethics