Preparing Your Family Business for Strategic Change

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.

'While each volume contains helpful 'solutions' to the issues it covers, it is the guidance on how to tackle the process of addressing the different issues and the emphasis on the benefits which can stem from the process itself which make the Family Business Leadership Series of unique value to everyone involved in a family business - not just the owners.' - David Grant, Director (retired), William Grant & Sons Ltd. (Distillers of fine Scotch) 'These books deserve a place in every business-owning family's library' - Leon Danco, Cleveland, OH 'I think the Family Business Leadership Series books are excellent. They are extremely concise and practical, and they have the information you need.' - Gigi Cohen, EVP, Magid Glove & Safety Mfg. Co., LLC, Chicago, IL

• PREFACEShorter Life Expectancy of StrategiesThe Family Factor PART I: REACHING YOUR FAMILY BUSINESS' STRATEGIC POTENTIAL Sorting through Mixed SignalsUnderstanding the Family Business Strategic PathGetting to the Next PhasePART II: DEMYSTIFYING PAST SUCCESSUnleashing Strategy and StructureLoosening Rigid StrategiesMaking Change Part of TraditionPART III: PREVENTING PAST BUSINESS STRATEGY FROM LIMITING FUTURE SUCCESSJust What Business Are You In?Getting Over Resistance to PlanningDeveloping Strategic SkillsMaking Change Less ThreateningPART IV: RESPONDING TO FAMILY AND BUSINESS NEEDSThe Power of Family ValuesReducing Personal Financial and Emotional InsecurityMatching Family Factors with Business StrategyAssessing Risk Tolerance of Family MembersDeveloping StewardshipPART V: STRATEGIC LIBERATION AND RENEWAL New Models for Strategic SuccessionAppreciating Inherent Family Business AdvantagesUnderstanding Inherent Family Business DisadvantagesTurning Disadvantages into AdvantagesWhat Have You Done for the Business Lately?Depersonalizing Disagreements about Succession or StrategyGetting Input from the OutsideConclusions: Getting From Here to ThereAppendix: Exhibits of Financial Performance Over the Family Business Strategic Path Index