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A Strategy That Puts You Back in the Driver's Seat

Published May 30, 1996 James G. Dickinson |

SEMINARS and newsletter articles on creating family limited partnerships (FLPs) and limited liability corporations (LLCs) have become a true growth industry. I, too, favor the use of these legal enti...

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Religious Extremism Can Hurt The Bottom Line

Published May 30, 1996 Leon Danco |

PEOPLE WHO KNOW ME have heard me speak often enough about the importance of love and faith to ensuring harmonious continuity in family businesses. To many business owners, their religious faith is a ...

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Gambling with the Family Patrimony

Published March 30, 1996 Leon Danco |

Léon Danco I get upset when I hear a young potential successor, impatient to take over the family business, say, “Give me a shot at it.” To me, these words reveal a lack of risk-...

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Talking the Talk, then Walking the Walk

Published March 30, 1996 John S. Powell |

Does your family have a plan for management succession? Forequity distribution? Have you communicated to your children your plans, expectations, personal values,and hopes for the future? Have you aske...

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Your Impact on the Economy

Published March 30, 1996 Melissa Carey Shanker |

Most research on family businesses is less than 10 years old. There are few quantitative studies on how many family firms exist in the United States or their impact onthe U.S. economy. The lack of su...

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Peaceful Resolutions

Published March 30, 1996 Ross Adams |

A brother and two sisters receive equal amounts of non-voting stock in their father’scorrugated box company after a 1980 preferred stock recapitalization. The siblings are constantlyarguing at ...

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Perspectives on Going Public

Published March 30, 1996 Monica Wagen |

Going public is a move fraught with risk for many family business owners. Yet a surprising number have done it, greatly benefiting both their companies and their families. In the United States, initia...

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Why Smart People Make Dumb Choices of Leaders

Published March 30, 1996 Ivan Lansberg |

The board of directors of Wang Laboratories opposed the choice of 36-year-old Frederick Wang as his father's successor in 1986. The computer manufacturer founded by China-born entrepreneur An Wang h...

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So Who Needs Strategic Planning?

Published March 30, 1996 Henry Mintzberg |

Conventional planners are quick to condemn “management by crisis.” They prefer to picture managers as orchestra conductors, standing up there on the podium directing the whole system in controlled...

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Equal Isn't Always Fair

Published March 30, 1996 Kelin E. Gersick |

Five years ago Adam Hutchison, age 64, decided to retire from hisreal estate business in Fairfield, Virginia. He had been president of New World Enterprises for 28years ever since his father-in-law&r...

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What, Me Worry?

Published March 30, 1996 Sue Birley |

What arethe issues that give you nightmares?” That was the inquiryunderlying a 1995 survey of owners of the United Kingdom’s closely held businesses. The chiefexecutives were asked to con...

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Making a Sibling Startup Work

Published March 30, 1996 Deanne Stone |

While onvacation in Italy back in 1983, Lee Gravely and her daughters,Frances and Susan, admired the dishes on which lunch was served in a hotel on the Amalfi coast. Avidcollectors of ceramic dinnerw...

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The Cousins Tournament

Published November 30, 1995 Kelin E. Gersick |

At the Blanchard family's 1993 New Year's Eve party, Al Blanchard talks for the first time about retiring as president of Grandview Industries. Al, 67, is standing on the back porch of his rambling S...

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Using the Business to Reconnect with Family

Published November 30, 1995 Ivan Lansberg |

Building a successful and thriving business is truly a miracle. It takes extraordinary energy and endurance as well as relentless determination to succeed against formidable odds.During the formative ...

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How Not to Get Along with Your Grown-Up Sibs

Published November 30, 1995 Jeff Reid |

If getting along with your grown-up siblings seems tougher than it should be, the problem may be partly semantic: Perhaps the words "grown up" should be used advisedly in reference to your siblings wh...

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Good Communication is a Two-Way Street

Published November 30, 1995 Leon Danco |

"When I use a word," Humpty Dumpty said in a rather scornful tone, "it means just what I choose it to mean—neither more nor less." "The question is," said Alice, "whether you can make words m...

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Eric Monsen's Mentoring Team

Published November 30, 1995 Stephen J. Simurda |

Last may the top two nonfamily executives at Monsen Engineering Co. sat down in a closed conference room with Dick Monsen, the company's 59-year-old president, and his son, Eric, a 29-year-old accoun...

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Never Fight, and Always Respect Each Other

Published November 30, 1995 Global Perspectives |

The Mogi family of Japan started the Kikkoman Corp. as a local soy-sauce maker in the 17th century. Today it is an international company. The family now has eight branches, each of which is allowed t...

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Working for the New Owner

Published November 30, 1995 Roderick W. Correll |

When you've worked so long for yourself, it's hard to begin working for someone else. When you've sold the family business, but choose to stay on to help the new owner grow the company, it's harder s...

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In the Shadow of Giants

Published November 30, 1995 Roy W. Menninger |

When Dr. Roy W. Menninger took over the presidency of the Menninger Foundation in 1967, he followed in the wake of not one but two olympian figures: his uncle, Dr. Karl Menninger, one of the pioneers...

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