Building Strong Family Teams: Contents


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Building Strong Family Teams

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1. Teamwork in the Family Business: Starting Points

The growing trend toward teams and partnership

Knowing when to change to a team-based organization

What families must realize about building a leadership team

Steps to creating a team atmosphere

2. Sibling Partnerships: Making Them Work

Tasks and pitfalls in a sibling partnership

First step: Establish a shared dream

Pros and cons of 50:50 sibling partnerships

Creating a level playing field for sibling co-leaders

Settling ownership between siblings who've drifted apart

Profile: Vietri Inc.'s sibling partnership uses its board to fuel growth

Profile: Three siblings define their roles when taking over Otterbine-Barebo

3. Cousin Consortiums: Managing Family and Company

Building a working relationship among cousins

Nordstrom: Letting cousins take over

Best ways for selecting third generation leaders

Profile: How Vellano cousins bought out their father-partners

Profile: How two cousins lead Ashforth Co. as co-managing partners

4. Husbands and Wives: Teaming Up to Create Growth

Common threads of successful spouse teams

Beating the stresses of mom-and-pop partnerships

How five couples separate home, work, and responsibilities

Using assessment exercises to find the ideal role for each partner

Self-test for compatibility in running a business

Profile: Rosann and Art Levy overcome the hazards of teaming up

Profile: Tim and Nina Zagat create a family brand name together

5. Building Better Executive Teams

Ten strategies that encourage co-leadership

How and when to form a team at the top

Teaming up with hired managers to spur growth

One model: Creation of an "office of the president"

Profile: All Metro Health Care's dynamic executive team

Profile: How the Cogliano brothers built an executive team culture

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6. Creating Employee Work Teams

How to form, inspire, lead and support teams in the workplace

When not to form a team

Encouraging teamwork and rewarding team performance

Ways to recognize potential team players

Profile: How Rosenbluth Travel instills the team spirit in employees

Profile: Marriott's recognition of its team players

7. Bringing the Family Team Together

Understanding stages of ownership evolution

How to pull family stakeholders together

Giving inactive shareholders a voice

Non-stock ways to compensate family shareholders

Settling disputes...and neutralizing troublemakers

How partners from different families can build cooperation

Profile: How a financial partnership keeps Wal-Mart's Walton family together

Profile: How Ronda Vecchio brings family members together as a business team

8. Transitions to Shared Leadership

Understanding transitions to sibling and cousin teams

Planning the changeover to co-leaders

Beating the special problems faced by co-successors

Teaching successors about teamwork

How partners from different families can choose successors

Profile: The third generation at Artkraft Strauss trains itself to take over

9.Requirements for Successful
Family Business Teams

Overcoming obstacles to good communications

Maintaining trust among all family members

Why leaders must build consensus

Resolving conflicts, getting around impasses

10. Practical Tools for
Achieving Teamwork

Partnership charters specify partners' expectations

Constitutions to establish the rights of active and non-active owners

Ensuring family councils elicit members' aspirations and views

Using retreats to smooth out disagreements and facilitate future planning