Book Description
Perpetuating the Family Business 50 Lessons Learned from Long-Lasting, Successful Families in Business John L. Ward A comprehensive guide to sustaining a family business based on the practices of the world's most successful family empires ohn L. Ward, a leading world expert on family business, offers the best practices of the most successful and long-lasting families in business. The book provides a framework for the creation of a successful business comprised of five insights and four basic principles for a strong foundation. Ward fills in this foundation with fifty lessons that he has learned from working with and studying family businesses that he believes will be crucial for success. These include: -Irrevocable retirement -Impersonal ownership -Voluntary accountability -Family education -Principle of merit -Family leadership succession -Inclusion of non-family executives -Synthesis of values -Spirit of enterprise -Family mission statement -Flexible dividend policies. Ward provides the reader with a reliable, tested blueprint for the development, management, and continuation of a suc-cessful family business. John L. Ward is founder of the Family Business Consulting Group International, and Professor and Director, Kellogg School Center of Family Enterprises, Northwestern University. He lives in Evanston, Illinois. Business Finance 1-4039-3397-9 $29.95 $44.95 Canadian 61 /8 " x 91 /4 " / 256 pages Includes 3 bw illustrations Palgrave Macmillan June
Customer Reviews:
Clear, insightful, personal, terrific for business families.......2007-02-01
By 'clear' I mean relatively easy to read, this is not a textbook. Dr. Ward says himself that it is the most personal book that he's ever written, and I would say that it is his best. Because it is insightful.
One example: of the Five Insights and Four P's, one is 'Policies before the need'. This is something that I've been begging business families to do: establish a policy manual with rules for this and that occasion. Just because your family business is relatively small and simple today does not mean that you can delay.
A problem with other books on the subject is that they are written with a certain kind of family business in mind. This one, however, mentions the first three stages of family business evolution, and lists the 50 lessons under one stage or the other. Most helpful!
Appendix C: A Family Business Checklist made me stop and say "Hey, this question isn't for my business yet." but that only means that if the question and its answer is not appropriate for your business yet, it is still beneficial to start planning and educating. In other words, what is not needed by one generation is essential to the next.
Families in business: listen to this wise man, communicate, and educate.
A must read.......2006-11-14
It is simply the best book about Family Businesses that I read. Besides that, it is one of the few books in this field that has a conceptual structure.
It will be helpful to all people interested in the perpetuation of family businesses.
Perpetuating the Family Business.......2006-07-23
Well written and researched, "Perpetuating the Family Business" is a "must read" for anyone interested in passing their own business on to the next generation. John Ward is not only experienced, but insightful regarding the dynamics that make or break families and family businesses.
Enlightening Lessons for Home & Work, New or Old.......2005-02-03
In a short book, John Ward offers many key findings & synthesized concepts (often surprising, even counter-intuitive) without wasting readers' time but with true-life examples enlivening his conclusions. His research & concisely presented insights match the multi-generational history of our multi-$B family holding company. This work should be on best sellers lists, not only because it is the "Built To Last" for private business, but also because it includes management principles that could be used in public companies seeking to endure.
C.U.
Book Description
Over 80% of the businesses in the United States are family-owned and managed. From the corner deli or barbershop to global empires in brewing, media, and cleaning products, family businesses employ over half of the country's workforce, and are the dominant business model in many countries around the world. Family businesses embody the entrepreneurial spirit that drives innovation and economic growth and that represents the hopes and dreams of millions for independence, self-sufficiency, and wealth. And yet the track record for entrepreneurial businesses is poor: over three-quarters will fail during the first five years and only 10% will survive a decade. Family business statistics show that fewer than one-third pass successfully to a second generation, often the result of insufficient planning. Edward Hess, who has researched and served as a consultant to family businesses for over 20 years, argues that the business and the family are distinct overlapping living organisms, constantly changing and influencing each other. In order for both to thrive, each family business must establish a proactive process for defining roles, articulating goals, and communicating them constantly. Drawing from numerous in-depth examples (both positive and negative) and presenting templates and other practical resources, Hess offers a fascinating glimpse into the dynamics of family business management and specific strategies to promote the health of the enterprise--involving family business leaders and members, non-family employees, board members, and shareholders. A comprehensive guide, The Successful Family Business covers the spectrum of topics from creating a family values statement and code of conduct to resolving conflicts among siblings to managing transitions in leadership and the potential sale of the business. Other issues include: defining perks and benefits (for family and non-family members), working with the board of directors, and going public. Hess concludes with a series of operating rules that apply to every family business and a listing of practical references and resources. The result is a book that will help anyone involved in a family business to develop successful practices that both maximize the value of the business and enhance family relationships.
Customer Reviews:
Excellent Insights.......2006-11-12
This was the first book I had read on family businesses and I found Ed Hess's insights very useful. As a consultant who works with many family owned and/or operated businesses, the book helped me understand the ins and outs of such businesses in a clear and concise fashion. I recommend it for anyone who wants to understand the unique nuances of family-owned businesses and ensure the long term success of them.
A must for a family business.......2006-08-19
I have not only studied this fine text, but I have bought copies for four friends with family businesses. I am personally aware of many of the pitfalls associated with a family business, but reading this book increased the breadth of my awareness greatly. And, most important, it provided great insight into how to deal with these many issues. I believe strongly that being forewarned is being forearmed, and this book provides invaluable warnings and solutions regarding family business challenges. I personally believe it is a must read for all members, direct and indirect, of family businesses.
A. Whitaker.......2006-08-02
As a Financial Services professional focused on advising Ultra-High Net Worth individuals and families during and after significant liquidity events, I have been witness to the issues that arise prior to, during, and after the sale of a family business. Ed Hess has thoroughly explored the realities that families must face when creating a succession plan. Hess also thoroughly discusses the typical exit options that exist for business owners as well as the qualitative considerations that families should explore before selling a business. I highly recommend this book and plan to use it as a reference tool on an on-going basis.
The Successful Family Business: A Proactive Plan for Managing the Family and the Business .......2006-07-30
Acquainted with Prof. Hess, I was looking forward to reading the book, as it is on a subject with which I was not fully familiar. I was not dissappointed. Straightforward, well organized and with great case studies, I believe I now better understand this specialized area of business. I recomment this book for anyone working in or advising a family business, and am lending my copy to a good friend with a considerable family business interest.
Family Planning.......2006-02-22
This book represents a complete summary of relevant, major issues facing any family business. Each of these issues will be actively managed or at least contemplated in the life of any family business and the long term success and viability of the organization is dependent on how or if the issue is resolved. Ed Hess provides thought provoking guidance on how to deal with each problem encountered. He points out the relationship and dependency of many of the issues to each other and the need for timeliness in addressing the subjects. This book is a must read for CEO's and Directors of growing family businesses.
Book Description
The essential guide to raising financially responsible children.
What parents say and do about money has a profound influence on children. Here are the eight behaviors of financially intelligent parents that will help families of all economic backgrounds raise fiscally responsible children.
Customer Reviews:
A must read for new parents.......2005-10-29
I just finished reading this book and loved it! The concepts presented in this book really helped me figure out how to integrate the concepts of financial success with raising my child. I can't imagine a better gift to give my daughter than helping her to be financially responsible. Imagine how different the world would be if everybody read this and encouraged this behavior their children! Exactly the kind of inspiration I needed with a new child.
Highly reccomend for all parents! EXCELLENT!.......2005-10-25
Most of my family & friends fly by the seat of their pants financially with their children. This book reminds and clearly teaches strategies (at any incomne level) to raise children to be financially responsible, generous, and moral. It even touches on paying for chores, grades & when should you start allowance!!
It's a must have book! Great gift idea too. Remember the phrase "failing to plan, is planning to fail". You'll love this book!
Practical and helpful approaches to teaching healthy approaches to money and finances.......2005-08-16
Just as money issues become a source of heartache and conflict within marriages, it often becomes a wedge between parents and their children. Kids who grow up with highly charged attitudes towards money often have a hard time in managing their finances with larger goals in mind. Chaotic finances are too often a contributor to chaos and pain in personal lives, as well.
Eileen and Jon Gallo stress being an intelligent parent first. Communication, appropriate teaching, example, and trust are the basis of a sound parent-child bond. In this book, they stress teaching healthy attitudes and approaches to personal finance because too many lives get sidetracked when money is handled poorly.
Rather than providing a book of tips on building a financial empire or guiding your children into careers on Wall Street, this book is about everyday lives. It is for parents with children of any age, including adult children. And, especially, the authors stress that it is never too late to being. You will be better off starting now on improvement rather than regretting that you had not begun earlier and then letting tomorrow continue down the same painful road.
The book is built around eight sound and helpful steps:
1. Encourage a work ethic
2. Get your money stories straight
3. Facilitate financial reflection
4. Become a charitable family
5. Teach financial literacy
6. Be aware of the values you model
7. Moderate your extreme money tendencies
8. Talk about the tough topics
I especially like they way each of these principles is handled. Not only do the authors discuss each principle, they also provide help in approaches to understanding your own example and how to create teaching opportunities with your child. It is a very practical book. It also has a very supportive tone that focuses on lifting everyone involved in these exercises in improvement.
Money is a part of everyone's life and ignoring it will not make it go away but will almost certainly make circumstances worse. Bad news collects interest over time and becomes an ever larger problem that will eventually have to be solved. Better to start on the right path and keep things in a healthy mode with a positive perspective.
This book can be a real help.
Product Description
This is a concise, yet complete handbook for starting a successful organic farm based on the community-supported agriculture concept. Written for farmers and non-farmers alike, the books illustrates how two middle-aged novices are making a decent living on less than two acres of land. Bob and Bonnie found few resources applicable to their situation when they began researching making their farm dream a reality and the book originally stemmed from their own desire to help others by sharing universal guidelines on small farm start-ups. The model explained in the book is an updated version of the diverse market gardens/farms found throughout recorded history. Not just a theory book, it details specific tools, techniques and how-to information. The Gregsons share sound advice, along with specific tools, marketing techniques, and planning guidelines, such as start up requirements, business plan basics, the importance of value-added products, choosing the best equipment and supplies, and more. The core of their operation, the subscription system, is examined in detail, with sound recommendations and guidelines for implementation.
Customer Reviews:
Location dependent.......2007-01-03
Aside from its wonderful inspirational value, the book is valuable mostly if you live in the right location to start such a project. This should be noted up front because if you live in a poor economic area where people can't afford subscriptions, you will not be able to make a go of it as it is described. Living in the Seattle area as the writers did, where many people appreciate organic foods and have the means to afford them, will of course make a better place for such a farm then let's say the backwoods somewhere where people have a hard time making ends meet. My point being that your location weighs heavily on the success of your organic farm. The potential buyer needs to know this before purchasing this book.
Book Description
How to manage the complex work and personal relationships that are intertwined in family business. Covers issues of importance to those working with family members, including separating personal and business issues, deciding whether to enter the family business, managing family teams, succession, couples working together, holding a family meeting, creating a family council, and personal and leadership development. Contains many exercises, reflection questions and examples for immediate practical use by families and advisors.
Customer Reviews:
the BEST on the family side of family business.......2001-08-15
This is one of two "required reading" texts for my clients and the transactional advisors who assist me in my own family busines practice. I've not found anything else as informative, insightful and helpful regarding "working with the ones you love." Great exercises that are readily accepted even by the more skeptical family members. Family businesses have told me they've found this helpful even when for fee or geographic reasons--my practice is limited to the Central Valley--I've referred them to this book in lieu of meeting with them personally.
Book Description
Examines the shifting demographic, economic, and social forces--the changing gender roles, harsher economic realities, and dual career families--that pull managers and executives out of balance. Draws on ten years of research, consulting, and training on the topic to describe the cost of imbalance to individuals and organizations and tells how to restore equilibrium. Provides numerous checklists and self-assessment tools to help determine the degree and the nature of imbalance in our lives and in our organizations. Outlines a step-by-step process for personal change that can lead to an improved quality of life and provides individuals with a blueprint for initiating organizational changes that jointly optimize personal development and organizational effectiveness.
Book Description
A survey, undertaken specically for this book, shows that 40% of women earning $50,000 or more a year are childless at age 45. So why is the age-old business of having babies so very elusive for this generation of high-achieving women? Why is it that all the new power and prestige does not translate into easier choices on the family front? It seems that women can be astronauts, CEOs, Secretaries of State, but increasingly, they cannot be mothers. Sylvia Hewletts powerful book looks at the hard and disturbing facts and goes on to advocate a new way of approaching the question of motherhood vs. career for a new generation of women.
Customer Reviews:
Life-changing truth that young professional women need to hear.......2007-07-11
This book deserves much higher ratings than it has on this site. Whether you want to believe it or not, this book says it like it is. Those who don't agree with what it says are either in denial, or they will find out the truth later at their peril.
As for me, I read the first edition of this book as a young student at Harvard, in the Coop bookstore at Harvard Square (never even bought the book!). I found it to be extremely accurate - it jibed with the reality I saw all around me.
After I entered the corporate world in Manhattan, I often remembered this book, and what it said was confirmed all around me. I worked with many of the childless (and single), older professional women that Hewlett speaks of - one of these had a child by sperm donation. The fate of these women seemed doubly unfair because the older professional men in our corporation were invariably married with stay-at-home wives...one of them had even "imported" a young, beautiful wife from Russia.
I finally decided that I would not become one of these older, childless and single women in my corporation. I quit my job and moved out of Manhattan, where finding a job with "normal" hours was near impossible. Three years later I was married to a wonderful man - and now, just entering my 30s, we are trying for our first baby. I am ever grateful to Sylvia Ann Hewlett for this book, which got me thinking, and helped me to transform my life so that I will have no regrets.
A must read for all women.......2007-01-21
I have recommended this book to friends of all ages and all carrer types. Everyone has loved it!! It is one of the only books i've read that really begins to investigate the socioeconomic impact of career women choosing not to have children (or having them much later in life). The author acurately captures the emotional, economic and social pressures that women face 30 years after the initial "women's rights movement" began. Her analysis is objective and thoughtful and should be read by all women and all parents with daughters. This book celebrates the successes of the women's movement, but also examines the new problems created by it and offers corrective solutions.
Read it, my dear sisters!.......2006-11-18
Going throuth the burning desire of wanting a baby and now 9 months pregnant at age of 38, and seeing my friend struggling to try to catch the last train with her own eggs at very low success rate at age of 41, I urge all my sisters read it.
Most of the people who reviewed this book aren't qualified to review this book ..........2006-04-12
If you gave up children for your career, you are not qualified to review this book. If you gave up a career to have children, you are not qualified to review this book. This issue is far, far too fraught with emotion for anyone who falls into these two categories to provide an unbiased analysis of the material this book covers.
If you gave up children for your career (especially if some part of you regrets your decision), you are probably going to be very hostile towards the author's assertions and very defensive of your own lifestyle choices. On the other hand, if you are a mom and part of you regrets giving up or delaying your career (or even if you are wholly content with your decision), you are probably going to loudly trumpet the author's wisdom and hail her as a champion for women who choose a "traditional" lifestyle. The sad truth is, women (especially those who don't have kids) are very passionate about the issue of childbearing, and the wounds of their decisions or non-decisions can be so deep that they will rabidly defend those decisions whether or not there are any feelings of regret, pain or self-pity present.
That said, the *only* people who are qualified to review this book are career-minded women in their 20s and early 30s who are still "on the fence" about childbearing, or who believe that modern science may help them conceive later in life, or who are so wrapped up in their careers that they still haven't taken up the challenges of marriage and/or childbearing. *Those* are the reviews you should pay attention to if you think you might be interested in reading this book. Everyone else is basing everything they say on their own self-defense.
Absolute [...].......2006-04-10
I never wanted children. Because of the insane hype surrounding this book, I thought I was "safe" when I turned 40. I got a little sloppy with the birth control. Now I'm eleven weeks pregnant with my first child.
Thanks heaps, Hewlett.
Book Description
This first-of-a-kind book by Roy Williams and Vic Preisser of The Williams Group reveals the hidden power of philanthropy to prepare your heirs for wealth and responsibility. After interviewing 3,250 affluent families and examining almost 100 family foundations, the authors disclose how successful families are using philanthropy to teach their heirs Values, develop their appreciation for focus on a specific Mission, and instill a sense of Accountability. In many cases, the use of philanthropy as a teaching tool by the family leaders determined whether or not the family remained unified—and financially successful—in their post-transition period. As in their prior groundbreaking book Preparing Heirs © 2003, the authors provide exercises, examples and checklists for each of five major age groups, beginning at age five. The book is easy to read and filled with specific guidance and examples. Viewing philanthropy as a tool to improve your odds of post-transition success adds a new benefit to the traditional rationale behind family foundations and family giving programs.
Customer Reviews:
An advice guide written especially for affluent families .......2005-04-11
Philanthropy Heirs & Values is an advice guide written especially for affluent families seeking an effective means to teach their children values, mission, and accountability, preparing one's heirs for a successful transition of wealth and responsibility. Authors Roy Williams and Vic Preisser, both of whom have decades of experience aiding families with post-transition planning, interviewed 3,250 families and examined almost 100 family foundations, and discovered the secret of using philanthropy to teach values, the focus of a mission, and an individual sense of accountability. Revealing specific cases in which the teaching tool of philanthropy determined whether a family would remain unified (and financially successful) in their post-transition period, Philanthropy Heirs & Values offers exercises, examples and checklists for each of the five major age groups. An extremely useful instructional that reveals the power of enlightened self-interest. Also highly recommended is Williams' and Preisser's previous guide, "Preparing Heirs".
Customer Reviews:
A Leading Promoter of Inspirational Leadership Inspires and Instructs.......2007-09-14
Author Mac Anderson is the founder of Successories, Inc., billed as "the leader in designing and marketing products for motivation and recognition." The author here combines the compelling photographs and quotations for which Successories is well known with wisdom from both his extensive business experience and his reading of other leadership gurus.
A good leader, the author says, should "walk the talk; keep it simple and keep it real; celebrate successes; know that courage matters; keep hope alive; take responsibility; develop a 'service attitude'; aim for the heart; and make a difference when wherever" possible.
"If you throw your heart over the fence, the rest will follow," the author says illustrating the virtue of Heartpower. "Don't be afraid to go out on a limb," the author says illustrating the virtue of Risk. "That's where the fruit is." "Integrity does not blow in the wind or change with the tide," the author says in promiting Integrity. "It is the inner image of our true selves."
Other virtues the author promotes are LEADERSHIP ("By the work, one knows the workman," Jean de la Fontaine said), ATTITUDE ("Attitude is a little thing that makes a big difference),DISCOVERY ("Leaders are like eagles," said Henry David Thoreau. "They don't flock, you find them one at a time"), GOALS ("Dream big dreams but never forget that realistic short-term goals are the keys to your success"), KINDNESS ("The best and most beautiful things in the world cannot be seen or touched," Helen Keller said. "They must be felt in the heart"), OPTIMISM ("Optimism is the faith that leads to achievement," Helen Keller said), VISION ("...The music makers...the dreamers of dreams...are the movers and shakers of the world forever it seems," said Arthur O'Shaughnessy), RECHARGE ("My attitude, my energy, my levels of motivation are directly tied to exercise"), PERSEVERANCE ("Go over, go under, go around, or go through, but never give up"), VALUES ("Things that matter most must never be at the mercy of things that matter least," said Goethe),CULTIVATE ("Pull the weeds. Otherwise the team, just like the garden, cannot grow," said John Murphy), TRUST ("Trust, not technology, is the issue of the decade," said Tom Peters, EXCELLENCE ("Excellence is not an act...It's a habit," said Artistotle), SERVICE ("Service is the lifeblood of any organization. Everything flows from it, and is nourished by it. Customer service is not a department...it's an attitude"), LEADERSHIP ("A leader's job is to look into the future and see the organization, not as it is, but as it should be"), QUALITY ("In the race for quality, there is no finish line,"),FOCUS ("Focus on the critical few, not the insignificant many"), FEELINGS ("You may not remember what someone says or does, but you'll never forget about how they made you feel,"), SUCCESS ("Try not to become a person of success, but rather try to become a person of value," Albert Einstein said), INTEGRITY ("Wisdom is knowing the right path to take. Integrity is taking it"), PASSION ("To love what you do and feel that it matters...How could anything be more fun," said Katherine Graham), and PURPOSE ("Let your light so shine before men, that they may see your good works and glorify your father in heaven," said Matthew in the New Testament).
Ideals the author pushes include "aim for the heart;" "develop a service attitude," "think change"; "strive for authenticity;" "take action;" "hre great people;" "expect the unexpected;" "take the inch by inch approach;" "walk a mile in their shoes;" "embrace humor, hope, and optimism;" "reward the gift of imagination;" "manage your energy;" "develop a 'refuse to lose' attitude;" "reinforce core values;" "pull the weeds (among employees);" "create an attitude of ownership;" "make good habits;" "learn from Southwest Airlines (about making customers have fun and feel respected)"; "your customers must come in second (to your employees);" "make your brand stand for something;" "focus on your priorities;" "understand the soft stuff;" "lead with values;" "lead with integrity;" "love what you do;" "make a difference."
The author has written a book to be read quickly, and a book to be reread time and again. The author has written a book to keep, and a book to give away. The author has boiled leadership down to its essence, and created a basis for future thought and research.
It seems there are an unlimited number of books on leadership, and none are either omniscent or indispensable. The author has written a good book to read at the start of leadership responsibilities, and a good book to read when one is enmeshed in leadership responsiblities. The author has made a contribution both to leadership itself, and to aiding in the communication of what leaders do from veteran leaders to newer leaders.
Woodrow Wilson famously said that the more time he had to prepare a speech, the shorter he could make it. With many years in the business of leadership instruction, the author has written a short but comprehensive outline of what leadership is all about in a manner that provokes sustained thought and provides inspiration.
This book deserves a wide audience in business, government, volunteer organization, and non-profits. Wherever leadership is needed and there is doubt as to what leadership entails, this is a book to begin the discussions and help start developing the solutions.
SIMPLE, CONCISE, and EFFECTIVE!.......2007-03-09
I love the book! It sits on my desk and everyone who walks in, picks up the book. The longer stories are only 2 pages... and someone can digest that in a 5 minute sitting. It is great!
Hope you enjoy,
Joe
Book Description
"Tichenor provides another slam dunk against a simple, purely materialist explanation for male privilege in marriage. She shows us that even though money matters, women need an ideology of equality to draw upon to negotiate fairness in marriage."-Barbara Risman, co-chair, Council on Contemporary Families "Tichenor's research sheds light on the inner workings of families and helps us to clearly see the power of gender ideology and to understand how and why women's higher earnings can be a liability rather than a resource."-Beth Anne Shelton, professor of sociology, University of Texas at Arlington For nearly two decades the wage gap between men and women has remained virtually unchanged. Women continue to earn, on average, 80 cents for every dollar that men earn. Yet despite persistent discrimination in wages, studies are also beginning to show that a growing number of women are out-earning their husbands. Nationwide, nearly one-third of working women are the chief breadwinners in their families. The trend is particularly pronounced among the demographic of highly educated women. Does this increase in earnings, however, equate to a shift in power dynamics between husbands and wives? In Earning More and Getting Less, sociologist Veronica Jaris Tichenor shows how, historically, men have derived a great deal of power over financial and household decisions by bringing home all (or most) of the family's income. Yet, financial superiority has not been a similar source of power for women. Tichenor demonstrates how wives, instead of using their substantial incomes to negotiate more egalitarian relationships, enable their husbands to perpetuate male dominance within the family. Weaving personal accounts, in-depth interviews, and compelling narrative, this important study reveals disturbing evidence that the conventional power relations defined by gender are powerful enough to undermine hierarchies defined by money. Earning More and Getting Less is essential reading in sociology, psychology, and family and gender studies. Veronica Jaris Tichenor is an assistant professor in the department of sociology at the State University of New York--Institute of Technology.
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Books Index
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Company Profiles
| Biography & History
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| Books
Strategic Planning for the Family Business: Parallel Planning to Unite the Family and Business
Keep the Family Baggage Out of the Family Business: Avoiding the Seven Deadly Sins That Destroy Family Businesses
Family Business Succession: The Final Test of Greatness, Second Edition
Generation to Generation: Life Cycles of the Family Business
Keeping The Family Business Healthy: How to Plan for Continuing Growth, Profitability and Family Leadership (Jossey Bass Business and Management Series)
