As the post-War baby boom generation ages, business founders and entrepreneurs worldwide are transferring ownership of privately held enterprises to their children in record numbers. Basic estate planning often triggers truly radical change in these enterprises: ownership passes from a single individual to a group, at least some of whom dont run the business, or to a trustee, who is directed to act for the family beneficiaries. Sometimes, an outside investor or non-family manager is brought in. The transition from owner controlled enterprise to shared ownership can be difficult and even risky. Enterprise decision-making becomes stuck:    New owners rarely have training or experience needed to succeed in their new roles.  Board and management, accustomed to working with a single managing owner, worry that the new owners will make unreasonable demands, meddle or take over.  Boards assume they understand what owners want - profits - but because they dont understand the owners shared purpose and vision, they often push the enterprise in the wrong direction   Trustees, unsure of how to work with beneficiaries to share decision-making, cling instead to fiduciary guidelines that dont suit the family or the enterprise.     Engaged Ownership introduces the time-tested process that the authors have used to help owners around the world to get un-stuck and become engaged and effective decision-makers alongside board and management.

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Engaged Ownership: A Guide for Owners of Family Businesses

2016

Wiley

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