Creating an effective Board of Directors in the Family Business

The Board of Directors ensures that the company expands and develops whilst meeting the appropriate interests of all shareholders involved. In a family business this becomes even more important  as companies mature and more generations begin to work within its structure.  At this level, the board ensures that all procedures and decisions being implemented are to the benefit of the company. Moreover, a board helps regulate and direct the company towards future accomplishments and means to achieve them.

Unfortunately, often one finds no structured and properly functioning bord within most family businesses as meeting tend to take place around the dinner table. Further more, a family business owner could feel threatened by the lack of control that he or she could have over the company through the holding of board meetings, as this is percieved as letting go of the business reigns.

In a Family Business one would be inclined to form a Board of Directors with family members and friends. However, at 2M Management Consultancy we are aware of the importance and power of such Boards and the effect they may have on the future growth and prosperity of your company.  Hence, we offer you the possibility of making a wise decision and using assessment centres and structured interviews to identify the personnel that best fit this position, keeping in mind the philosophy and structure of your business.
We also offer mentoring programmes that will assist newly formed and existing Boards of Directors in successfully fulfilling their tasks and minimizing disagreements whilst enhancing the corporate responsibility and the effectiveness of the Board