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The Professional stage conveys a need for more formality, more written agreements more accountability mainly due to the multi generational ownership. Expectations are clearly stated and there is a sense of stewardship and diligence. Our concerns as owners are different than those of operators and managers but they need to be aligned, there is more need for planning and clarity.
The journey is often but not always linear from single to multigenerational, nevertheless we face daily challenges as we navigate the intricacies of ownership and what it entails.
External-Macro
Manager
Owner
Internal-Micro
Working
in the
business
in the
business
Working
on the
business
on the
business
Short Term
Long Term
- Innovation
- Monitoring
Breakdowns
- Trends
- Environment
- Corporate Social
Responsability (CSR) - Approve Acquisitions
& Mergers
- Risk
- Strategic
- Performance of CEO
- Return on investment
- Monitor Business
Performance - Financial Resources
- Operations
- Results
- Performance &
Efficiency - Human Resources
Multi Generational Professional
Multiple Owners Managerial
Single Owner Entrepreneurial
Source: © Business Families Foundation 2014