Family Meetings

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.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.

• Introduction The Value if Family Meeting Unfounded Fears PART I: TEN BENEFITS OF EFFECTIVE FAMILY MEETINGS Building a Stronger Family Building a Stronger Business Planning for Future Ownership Planning Family Participation Managing Inherited Wealth Opening Up the Succession Process Preserving Family Tradition and History Professionalizing the Business Managing Relations between Family and Board of Directors Recognizing and Resolving Conflict PART II: HOW TO HOLD EFFECTIVE MEETINGS Overcoming Misconceptions and Fears When is the Right Time? Who Should Run the Meeting? The Agenda, Location Whom Do We Invite Openers Icebreakers Documenting the Meeting Closing the Meeting Running Ongoing Meetings Family Retreats Communication Organization How Issues Change as the Business Evolves Forming a Family Council Role and Rituals and Ceremonies Avoiding Pitfalls PART III: SOME MILESTONES REACHED THROUGH FAMILY MEETINGS Planning the Future of the Business Smoothing Ownership Succession Encouraging Family Members in Stewardship Developing Family Skills Creating a Family Mission Statement Summary Index

'For my own experience in continuing a family business team relationship with my brother and sister, I found books such as Aronoff and Ward's Family Meetings invaluable. Without it, we would have neglected to bring up the family 'glue' issues for discussion, such as family vacations, birthday, weddings, etc. That part of the meeting has done more to maintain our commitment to the family business by reminding us to stay committed and connected to one another.' - Patricia M. Cole, Nova Southeastern University, Reprinted from Family Business Review, December 2001 'Family Meetings offers practical guidelines for family businesses that need to work through issues typically avoided during the business day.' - Dave Henderson, Samaritan Medical Center 'Family Meetings was a breath of fresh air to our family business! Providing clear and concise tools, it addressed family dynamics bringing back to the table, trust, respect, and communication. The need is out there and this book provides the vehicle. We've already recommended it to several family businesses!' - Jim and Lin Roscoe, Roscoe Steel & Culvert Co.