
Source: © Business Families Foundation 2014
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Compass for Entrepreneurial Families |
Decisions need to be made in the right forum and each forum has its particular mandate
The family council is responsible to ensure Fair Process for all family members
The Board of directors must oversee policies and procedures for the business
And the shareholder group is accountable to all shareholders as prescribed by the shareholder's agreement
All of these structures and agreements are as efficient as their decision-making processes