The Family Business Board, Volume 1
In brief: More than ever before, large family businesses, and those that aspire to grow large, need an effective board. The Family Business Handbook Series is aimed at leaders and owners of family businesses looking to help the company meet these challenges either by building a board (the focus of Volume 1) or by advancing the capability of the one they have (the focus of Volume 2, Governance for Agility and Growth). This first volume covers fundamental principles for defining board purposes and designing board structure.
How boards can use this resource:
- Sharpen understanding of the two challenges that lead family businesses to build a more professional board--namely complexity (of the company and family); and change (in markets, technologies, and business models).
- Adapt and employ the book’s resources for family business boards, including sample position descriptions, interview questions, governance guidelines, and a governance committee charter.
Most relevant audiences: family business founders, heirs, board members, and advisors