The Family Challenge – Cranfield Masterclass
This workshop is highly interactive and will explore a number of different themes relating to the challenges facing family firms today. This includes educational sessions, interactive discussions, case studies using practical tools to solve problems, and guest speakers. By the end of the day you will have practical advice and real life examples for you to take back to your own family businesses.
We have a limited number of scholarships, supported by Coutts and Cranfield,for this programme.Up to three members from the same family to participate for the price of one, £495.
To register for the offer, contact Michelle Kent.
What will I get out of the programme?
- Sensitisation to the issues facing family firms, to help you identify future risks by listening to the experiences of others
- An understanding of best practice and what other family businesses are doing to plan for the future - and to take this back to your own family businesses
- Opportunity to network with other like-minded family business owners
- Chance to raise any particular challenge that you may be grappling with and receive feedback.
What is the programme about?
Having family members working together in a family business can create a powerful and cohesive team. Yet this brings with it challenges all of its own. Individual family members and different generations will have their own individual style of working and each will have their individual vision for the future. Differences and divergences are inevitable.
In addition, having multiple family members owning shares in the family business can create complex challenges, especially as the business passes down the generations and the family expands and disperses. Again, differences within the family are inevitable.
The key to long-term success and to getting the generations to work together is the careful management of those differences and the development of open communication in everything that happens. That involves aligning the vision of the family and making time to understand the family’s concerns and the needs of each individual. It implies putting in place structures and guidelines that separate and govern the relationship between the family and the business, and which manage the expectations of all involved. Thus families can ensure that the business is not completely caught off-guard by something unexpected like the sudden death of a family business leader or disagreement over who is entitled to own shares, or who can work in the business. The key is to plan in advance and to take steps to solve tomorrow’s predictable problems today.
Who is the programme for?
This workshop is aimed at the current generation of family owners, spouses and next generation family members.
We would encourage you to participate with more than one member from your family in order to get the most out of the Masterclass.
Per family: £495 for the first family participant, £395 for second and third family participants.
Director
David Molian is joined by Programme Leader Juliette Johnson, Head of UK Family Business, Coutts & Co