Family Assembly & Council
"Professional and effective leadership in family businesses"
The family assembly is a formal forum for discussion for all family members about business and family issues. These informal meetings allow the founder/s to communicate family value and vision, generate new business ideas, and to help prepare the next generation of the family business leaders. The primary purpose of the family assembly is to bring family members together in order to reflect on family and family business issues. It allows all the family members to stay involved about current business issues and gives them a platform to voice their opinions.
Some of the issues handled during family assemblies include;
- Approval of any changes in the Shared Purpose and the values and vision of the family
- Education of family members about their rights and responsibilities
- Approval of employment and compensation policies
- Other important family matters
“We support family businesses with their everyday challenges”
The family council is a working governing body that is elected by the Family Assembly to deliberate on family business issues. The family council is established as a representative governance body for the family assembly in coordinating the interests of the family members in their business at Board level.
The responsibilities of the family council would include;
- Acting as the primary link between the family, board of directors and senior management
- Drafting and revising family documents on its vision, mission and values and its Shared Purpose
- Drafting and revising family policies in relation to employment, compensation and family shareholders polices
- Dealing with other important matters to the family.