Business Families | Someone has to lead

About the Book

* "Business Families: Someone Has to Lead" is an introductory text that shares a journey into the world of business families.

* It addresses questions like "where do I start?", "how do I start?", "what do I need to know?", "is this knowledge available in a format I can understand?", and "how do I apply this knowledge?".

* The book aims to consolidate the basics of what it takes to succeed as a business family and make it available in a style and format accessible to readers.

* It provides a basic foundation for business family members who wish to explore and learn more about the business family system they are part of and how they can contribute to the success of their business family.

* The book opens up the vast body of literature and research dedicated to business families, making it accessible to business families located in the SMME segment of the South African economy.

Key Topics Covered

* The Basics: Defines "family" and "family business" and introduces the concept of a "system" and its related "model".

* A Framework: Presents a roadmap identifying the starting point, building blocks, and resources the business family will have to develop and draw upon in pursuit of success.

* Leadership: Summarizes leadership theories and suggests a leadership model that may find favour in its general application and introduces the concept of team leadership.

* Governance: Addresses how the family manages its relationship with the family business and the family’s wealth in general.

* Education: Explores the knowledge, skills, and competence that needs to be developed within the family for it to thrive and navigate the inevitable transfer from one generation to the next.

* Wealth & Culture: Extends our understanding of the meaning of wealth and the importance of family culture to the family business.

* Succession: Discusses the transfer in ownership, as well as leadership and management control of the family business from one generation to the next.

* Community: Recognizes that business does not exist independently of the community within which it is located and must embrace an obligation that extends beyond profit maximization.

* One Generation: Calls for a sense of urgency, identifying a number of themes that those who occupy the business family space should pursue.

Who Should Read This Book?

* Founders who had an idea and the courage to create a business around that idea.

* Family members in positions of leadership within the business family who recognize the important role the family business plays in the family.

* Corporate supply chain managers have an opportunity to leverage their investment to the benefit of the company and their family business SMME suppliers.

* Sales and marketing teams of organizations will unlock value for their SMME clients by providing access to knowledge and insight currently the preserve of the wealthier business families.