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When the Business grows at a rapid pace and the size of the family begins to increase, ambiguity on family employment matters can become a source of potential conflict. Therefore, arriving at a comprehensive Family Employment Policy (FEP) is important to ensure harmony and nurture family talent for the business.
Amarelli is among the few family-owned businesses that has demonstrated resilience, longevity and sustained growth during the long tenure of its 13 generational transitions in family. The Amarelli family's history of licorice production dates back to the early 11th century. Their enduring fascination with this remarkable plant, scientifically known as "glycyrrhiza glabra" (referred as "licorice" or "sweet root,") led to a breakthrough in 1731 when they established a "concio" - one of the earliest pre-industrial organizations aimed at extracting the beneficial juices of licorice. Cultures around the world have used licorice, a sweet-tasting root native to Eurasia, for centuries for culinary, medicinal, and industrial purposes.
The authors highlight five fundamental principles of a successful generational handover, which allow robust businesses to thrive and struggling ones to regain momentum. These principles, collectively known as PEACE, are Planning, Equity, and Access to external figures, Co-presence, and Emotional Readiness.
Digital transformation is not just about automation and digitization. It is also about innovation and customer experience.
The idea of generational change from one to the next is not a single moment.
By providing concierge services that help with the day-to-day needs of the family, such as travel arrangements, event planning, and household management..
Wealthy families have complex financial needs that require specialized expertise. A family office provides personalized and comprehensive financial solutions that address the unique needs of each family member...
Communication is an essential ingredient for sustaining wealth across generations...
The article authored by Dennis T. Jaffe explains the role of family values..
The central purpose of a focused family philanthropic fund/initiative is to reinforce the family’s values...
The question of what is fair has perplexed many family business owners, and their search for fairness...
For NxG members who are raised in a wealthy entrepreneurial family, the benchmark for success...
Developing the Next Generation (NxG) members into competent and empowered “leaders of tomorrow”...
Essential documents that help families define, structure and sustain success across generations...
Active participation in social media can serve as a powerful tool to build personal brand for leaders and members of entrepreneurial families. Many founders, start-up entrepreneurs and C-Suite leaders have adopted successful social media strategies to build a powerful personal brand. It is an effective strategy to enhance the brand identity of the organization with which the person is associated.
Beretta is an Italian firearm manufacturer that was founded by Bartolomeo Beretta in the 16th century...
This case study is based on a real family business. However, the name and major details...
Good communication doesn’t eliminate conflict, but it does help you manage..
As the business family and the business simultaneously grow and mature, the family enterprise is constantly challenged by new tasks and issues. The growing family business needs to become a “learning organisation”
Businesses create policies to ensure consistency, fairness and consistency in decision-making..
In family run companies, "Entitlement" often refers to a sense of being "owed" such benefits..
A large Italian firm, De Agostini Group evolved successfully from its traditional cartography..
Governance in the "Business" includes all the practices, processes and policies..
A Family Council is an important decision-making forum that helps enterprising families..
Successful, multi-generational family businesses are known to pay considerable attention..
In a letter dated 1927, Aram Zildjian (Aram), from Constantinople, wrote to his nephew Avedis III..
Carvajal, one of the oldest family business from Columbia, is 115 years old..
Harmonious, cohesive family relationships result in "familiness" or unique "family capital"...
Family structure determines the ways in which family members interact and relate to one another. ...
The Houshi Ryokan (a traditional Japanese inn) can trace its history back to an astonishing period of 1,300 years...
Managing family business involves managing both - the family and the business. The CEO of a non-family business has to manage sales...
When decisions in family business revolve around financing the business and the "family capital" as investments, it raises...
Women have traditionally played a somewhat 'invisible' role in their family businesses, working behind the scenes in administrative duties...
When we hear about "professionalization" of the Family Business, does it mean "changing from family management of a business...
Families that have been successful in maintaining their legacy and wealth over time, have done so by instilling a sense of stewardship...
There are multiple studies and findings which demonstrate that family firms enjoy better competitive advantage...
A majoriy of domestic companies in India -big or small- are run or controlled by a family, Family-run enterprises play a significant role...
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Authored By: Claudia Binz Astrachan
PFBI CASE STUDY
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