Continuity Model Generation

JUSTIN B. CRAIG, PhD, is Professor of Entrepreneurship and Family Enterprise at Bond University in Australia and Visiting Professor of Family Enterprise and program director of the Center for Family Enterprises at the Kellogg School of Management, Northwestern University. He is the co-author of Leading a Family Business: Best Practices for Long-Term Stewardship.

• List of Illustrations xiList of Illustrated Tables xiiiList of Configuration Plans xvAcknowledgments and Appreciation xviiIntroduction to the Continuity Model Generation xxiPart I: 21 Frameworks and 6 Meta-Frameworks 1Keystone Meta-Framework 3Four Foundational Theoretical Approaches 3Two Complementary Logics 15Three Circles Framework 18Familial Meta-Framework 25The Big Tent Framework 25RIPCC Best Practice Dimensions 28Four Ps Framework 30Four Cs Framework 32Individual Meta-Framework 39Five Servant Leadership Dimensions 39Four Tests Framework 43Four Leadership Priorities 45Four Exit Strategies 48Generational Meta-Framework 51Four Ls Framework 51Four Ownership Stages 55Four Entrepreneurship Principles 60Tactical Meta-Framework 63Family Enterprise Heterogeneity Frameworks 63Four Rs Framework 66Four Strategy Dimensions Framework 69Fundamental Meta-Framework 73Four Trust Dimensions 73Five-Stage Life Cycle Framework 76Church and State Framework 79Four Innovation Capabilities 82Part II: The Continuity Canvas 85Strategy: Strategic Planning for Continuity 87Strategic Planning for Continuity I: Collecting and Collating Basic Information 87Strategic Planning for Continuity II: Cornerstone Concept Equals a Quadruple-Bottom- Line Scorecard 91Financial Perspective 93Social Perspective 98Environmental Perspective 103Talent Perspective 108Talent: Successors’ Talent Development Planning for Continuity 115Successors’ Talent Development Planning for Continuity I: Collecting and Collating Basic Information 129Successors’ Talent Development Planning for Continuity II: Cornerstone Concept Equals Develop an Informed Individual Philosophy of Stewardship 131Values – History – Legacy 133Financial Literacy and Value Creation 137Governance Role Preparation 145Individual Development 150Wealth: Asset, Wealth, and Estate Planning for Continuity 155Asset, Wealth and Estate Planning for Continuity I: Collecting and Collating Basic Information 156Asset, Wealth, and Estate Planning for Continuity II: Cornerstone Concept Equals Produce a Handwritten Individual Legacy Statement 158Governance: Governance Planning for Continuity 169Governance Planning for Continuity I: Collecting and Collating Basic information 169Governance Planning for Continuity II: Cornerstone Concept Equals Craft the Family’s Governance Philosophy 171Business Governance 173Family Governance 183Ownership Governance 185The Foundation 192Part III: Configuring a Plan for the Plans 197Configuration Plan One 199Configuration Plan Two 203Configuration Plan Three 205Configuration Plan Four 207Part IV: Appendix 209Educating Educators 211A Program Example 215Part One: Frameworks and Meta-Frameworks 215Part Two: Four Plans and Cornerstone Concepts for Continuity 218Part Three: Presenting Configuration Examples 222Part Four: Developing Your Own Continuity Canvas and Cornerstone Concepts 223References and Further Readings 225Index 231