Family Business Strategy Group
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​Family Business Strategy Group helps families develop a Family Strategy that is aligned with their Business Strategy, all of which is driven by the family's values.

FAMILY STRATEGY FORMULATION:

Phase 1

Develop Long Range Plans

Values – Common values shared by the whole family, and the foundation of the Family Strategy.

Mission – A statement of who the family is and why they are together as a group.

Vision – A statement of where the family wants to be in 10 years, where the business is going to be, and what the family will have done to become the best possible partner with the business so that both business and family achieve their strategic objectives.

Objectives – Outline of major plans to achieve Family Vision.

FAMILY STRATEGY IMPLEMENTATION:

Phase 2

Putting Strategy in Action

Programs – required to meet strategy Objectives.

Budgets – Defined costs to meet the Family Vision. There will likely be costs associated with family meetings, education, and personal growth in order to achieve the Family Vision.
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Procedures – Steps and actions required to deliver the Programs.
 
 
 
 
 

FAMILY STRATEGY EVALUATION:

Phase 3

Monitoring Performance

Performance – A process to track and report Program success.

This is a key to ensure that modification can be made to strategies or programs based on ongoing feedback. Any recommendations for changes or additions are aligned back to the values.​​
 
 
 
 
 
 
 
 

ADDITIONAL COMPONENTS THAT MAY BE REQUIRED TO IMPLEMENT FAMILY STRATEGY

FAMILY CONSTITUTION

Many families have a constitution, or elements of one. This is a key component to Family Strategy as it sets out the foundation of the strategy and outlines the baseline decision-making process and defines what the family’s goals and policies are as a group. FBSG will help define those areas that may need updating or modifications in order for the constitution to support the Family Strategy.

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FAMILY GOVERNANCE

Just as Values are the foundation and Vision is the direction, Governance is where ideas become action. FBSG will help families define or refine the most effective governance model to deliver the strategy. Elements of Governance include a proper format for leadership development, processes to obtain buy-in with the larger family, venue to create positive working relationships with family members, decision-making and action-taking processes so that the family can make progress on the Family Strategy.

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