Tag: Board of directors

How Boards Help Complex Family Firms Make Sound Decisions

Fiduciary boards keep family firms focused on the long term, rather than on short-term, tactical strategies. But many family firms resist having one, fearful of losing control of their enterprise. Read more

How to Boost Your Board's Performance

On an ideal board, directors with different levels of experience, backgrounds, and interests form a cohesive team that pulls in the same direction, and that achieves more together than "the sum of Read more

How to Transform an Outdated Board

Creating a board of directors is not a one and done activity. As a business grows and the business environment evolves, boards often need to be revitalized and transformed to adjust to the new Read more

The Biggest Mistakes Family Businesses Make With Their Boards

Family business researcher, lecturer, and advisor Claudia Binz Astrachan has studied first-hand how effective boards of directors steer family business management towards strategies that make the Read more

Diverse Boards Help Family Businesses Expand Internationally

Expanding into other countries can open up new opportunities and revenue streams for all kinds of businesses around the world. This is especially true within the European Union, where products can Read more

New Ways Business Owners Can Use Boards

While boards of directors are common at large firms and nonprofits, family businesses don't always see their value or understand how to use them well. However, according to consultant and author Read more

Conventional wisdom tells us that having a long-term strategic focus on customer value creation and future market demands is a powerful source of building a sustainable competitive advantage in Read more

Women Can Help Family Firms Innovate – but Socioemotional Factors Matter

Around Europe and elsewhere, the number of women in leadership roles is going up, and they are having a measurable impact on innovation and profits. Many researchers have found that having more women Read more

The Best Family Business Boards Embrace Candor and 'Necessary Endings'

Second of a two-part series From our studies evaluating the effectiveness of boards at family firms, we’ve seen first-hand how strong boards can help family businesses be more successful. In our Read more

Four Things that the Best Family Business Boards Do Well

First of a two-part series Can you quantify your board’s contribution to the performance of your family business? Even if you can’t put a number on it, you should have a keen sense of how much Read more