Why the Best Family Businesses Plan

26 Pages Posted: 7 Dec 2009

See all articles by Randel S. Carlock

Randel S. Carlock

INSEAD - Entrepreneurship and Family Enterprise

Date Written: December 2, 2009

Abstract

Families are about caring and businesses are about money — not a likely formula for a successful partnership. Unfortunately those are the facts and family enterprises around the world have found that planning for these two often-conflicting systems is the key to family harmony and business success. The new Parallel Planning Process is an improved version of a proven tool for aligning the family and business systems’ thinking and planning into a comprehensive family enterprise plan. This parallel planning model facilitates communication about the business’ potential which is supported by family’s investment of its human and financial capital. The article discusses how successful business families develop plans and actions to ensure owner and leadership transitions that promote family harmony and sustain business performance.

Keywords: Family Enterprise, Planning, Succession, Entrepreneurship, Leadership, Communication

Suggested Citation

Carlock, Randel S., Why the Best Family Businesses Plan (December 2, 2009). INSEAD Working Paper No. 2009/63/EFE/WICFE. Available at SSRN: https://ssrn.com/abstract=1517239 or http://dx.doi.org/10.2139/ssrn.1517239

Randel S. Carlock (Contact Author)

INSEAD - Entrepreneurship and Family Enterprise ( email )

Boulevard de Constance
77305 Fontainebleau Cedex
France
+33 0 1 60 72 41 42 (Phone)
+33 0 1 60 72 42 23 (Fax)

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
249
Abstract Views
900
rank
127,641
PlumX Metrics