Aspire MasterClass explains how the Family Business Master Class Series can help position family businesses for the future.
Current and future family business leaders often view key aspects of the business, such as succession planning, governance and growth, in different ways. But successful family business leaders need to be aligned. That’s why we have created a five part Family Business Master Class Series aimed at family enterprises keen to plan and strategize for the future.
Family businesses consider more than revenue, profit and performance: they take into consideration about the identity of the family and its reputation, as well as their legacy going forward. Boardroom problems can surface round the living room or kitchen table which can lead to a heated debate. So it’s important to put strong governance frameworks in place for both the business and the family.
Aspire Masterclass offers a range of courses specifically designed for families in business. All courses have limited availability to ensure members receive maximum benefit from participation. We strongly recommend that attendees bring key members of their family and management team. Experience has taught us families in business who embrace courses collectively realize a greater benefit.
This is a 5 session Masterclass, each session is of 2 hrs. duration. Please find the topic for each session and what we shall cover is mentioned below:
| Date | Time | Topic |
|---|---|---|
| 14 July 2021 | 4:00 pm – 6:00 pm | Module 1: Understanding Family Business Dynamics |
| 17 July 2021 | 4:00 pm – 6:00 pm | Module 2: Managing Differences and Decision Making |
| 24 July 2021 | 4:00 pm – 6:00 pm | Module 3: Succession Planning |
| 31 July 2021 | 4:00 pm – 6:00 pm | Module 4: Governance in Family Business |
| 07 August 2021 | 4:00 pm – 6:00 pm | Module 5: Understanding My Family Business |
Date:
14th July 2021
4pm – 6pm
Session:
UNDERSTANDING FAMILY BUSINESS DYNAMICS
Topic:
◈ Importance of Values and legacy in Family business
◈ Reasons for premature mortality of family business
◈ Roles, Responsibility and Rights amongst family members
Focus Area:
◈ How does values act as the bedrock of the family business?
◈ How do they influence principles of decision making in family and business?
◈ What are the Five factors which enables family business go beyond the third generation?
◈ How do we decide the roles of the family members along with rights and responsibility?
◈ Do all family members have equal rights? On what basis do we decide?
Material:
Case Studies from Indian Family business
Date:
17th July 2021
4pm – 6pm
Session:
MANAGING DIFFERENCES AND DECISION MAKING
Topic:
◈ Need for a “ Fair Process “
◈ Its not about managing conflict
◈ Managing difference within the family
◈ Creatively addressing differences
Focus Area:
◈ How do we implement?
◈ How do we prevent differences from becoming conflicts?
◈ What are principles to be followed?
◈ How Forums effectively manage communication?
◈ How collaborative approach resolves differences?
Material:
Tools , Techniques and Process
Date:
24th July 2021
4pm – 6pm
Session:
SUCCESSION PLANNING
Topic:
◈ A journey and not an event
◈ Need for Succession Mind-set
◈ Succession to Business and Ownership
◈ Letting go by Senior Generation
Focus Area:
◈ When does the process of succession planning start?
◈ When do we start the transitioning process?
◈ How do we implement?
◈ What type of mind-set do you develop in the next generation?
◈ What is the Culture of succession planning?
◈ How is it different?
◈ How does it happen and what precedes?
◈ How do we plan the transition of the Sr. Generation?
◈ They don’t retire, what next?
Material:
“MERCK” Case Study
Date:
31st July 2021
4pm – 6pm
Session:
GOVERNANCE IN FAMILY BUSINESS
Topic:
◈ Importance of Family, Business and Ownership Charter
◈ Various forums in family business for governance?
◈ Importance of a Family Constitution
◈ Need for Living the Constitution
Focus Area:
◈ Why do we require these charters and do they help in arriving at principles and polices in family business?
◈ How do we implement these charters?
◈ What are the Five types of councils which enables family business to implement good governance?
◈ How do we decide the policies and process that we need to have?
◈ What is the process of writing the constitution?
◈ What does it take to implement the constitution in family business?
Material:
“MERCK” Case Study
Date:
7th August 2021
4pm – 6pm
Session:
UNDERSTANDING MY FAMILY BUSINESS
Topic:
◈ Our advisory experience on complexities of Family Business
Focus Area:
◈ How decision making changes as we move from one generation to another?
◈ What happens when Family Out grows business?
◈ How to move from a “Family Business to a Business Family?
◈ How to managing “In the Business” and “ON the Business”?
Material:
“Living the Constitution”
Examples from various family business