“Differences are unavoidable between generations,” says family business consultant Ed Rosenfeld. “The senior generation generally has an interest in preserving what they’ve built and an economic incentive to protect their retirement. The younger generation feels pressure to grow the pie in a shorter time frame, or they’re not going to get the lifestyle that they [&hellip
Family Business Dynamics Archive
Pitfalls in Hiring and Managing Family Members
The Family-Business Soap Opera Excerpt: Edward Rosenfeld was president of International Furniture Rentals in Hawthorne until it was sold to Warren Buffett’s Berkshire Hathaway. Today, he serves as a consultant to other family owned businesses and has seen plenty of role confusion in them. “If there are other family members in the business, their relationships [&hellip
The Lessons Of Succession Planning For A Family Business, Murdoch Style
The Lessons Of Succession Planning For A Family Business, Murdoch Style Excerpt: “When things like phone hacking and spying are part of the corporate culture it makes you wonder what the family culture is like.” Edward Rosenfeld in Forbes Magazine November 11, 2011 For full article click here or copy and paste into your browser: [&hellip
Business Dynasties Need to Plan for the Delicate Task of Succession
This article appeared today in the New York Times. While Asia may be behind the US in Succession Planning, I find Canada has public support for the family business and a more effective inheritance planning scheme. My recent work in Ghana bears out much of the gist of this article. Plan early and plan constantly [&hellip
Entrepreneur Profile: Edward Rosenfeld
Entrepreneur Profile: IFR Furniture Rentals by Dan Lee on November 30, 2010 Thanks to Dan of Axial Markets for posting this profile on his blog. It goes to the heart of my concern for the successful transition planning for the family business. https://www.axialmarket.com/blog/2010/11/entrepreneur-profile-ifr-furniture-rentals
Working with Enterprise Families: Different Approaches and The Ackerman Relational Mode
I plan to attend this workshop on February 16th sponsored by the MidAtlantic Chapter of the Family Firm Institute: http://www.cvent.com/EVENTS/Info/Summary.aspx?i=884a7c3e-5dc3-45fb-b1dc-4e81b77e77d4 Here is the material being covered: Given the influence of the family dynamics on family enterprises, it is important as professionals to understand what helps create effective and positive change in families. The field of [&hellip