Practice Insight
Practice insights are articles submitted by practitioners, such as entrepreneurs, consultants, managers, and venture investors. These articles undergo editorial review but are not peer reviewed.
Family businesses should consider a social media policy as a relatively “low-hanging fruit” to introduce the next generation to governance work. Does your business family have a social media Read More...
Category: Practice Insight
Authors: Claudia Binz Astrachan , Tom Rüsen and Rebecca DeYarman
Values can form a strong foundation for a family business. Through shared values, we feel united and form a bond of culture, history, and pride. This bond can motivate each member of the family to Read More...
Category: Practice Insight
Author: Eva Fischer Hansen
Many of us are (or at least we believe ourselves to be!) natural-born problem solvers: Once we recognize a problem, we want to resolve it as expediently as possible. As a result, we fall into Read More...
Category: Practice Insight
Authors: Joseph Astrachan and Claudia Binz Astrachan
As we showed in part 1 of this discussion , trying to use budgets as both a planning tool and an expectations setting tool can be destructive, because the self-interests of different factions Read More...
Category: Practice Insight
Author: Joseph Astrachan
Part 2 of a two-part series As we showed in part 1 of this discussion , trying to use budgets as both a planning tool and an expectations setting tool can be destructive, because the self-interests Read More...
Category: Practice Insight
Author: Joseph Astrachan
Part 1 of a two-part series Are you familiar with any of the following scenarios? “My business unit leaders never set realistic budgets, I have to push them and prod them to get growth—did I hire Read More...
Category: Practice Insight
Author: Joseph Astrachan
The book The Paradox of Choice , written by Barry Schwartz and first published in 2004, posits that people, in general, suffer a loss of happiness because we have too much choice in everything we Read More...
Category: Practice Insight
Author: Doug Baumoel
Digital transformation is adapting an established business so it can continue to grow in the digital era. What does that really take? It turns out -- much to the surprise of many -- the most Read More...
Category: Practice Insight
Author: David Rogers
Assessments, tests, and evaluations are being used more routinely in businesses, and new tools are coming on the market designed specifically for family firms. In our consulting work with families Read More...
Category: Practice Insight
Author: Doug Gray, PhD
The University of St. Thomas (Minneapolis) Family Business Center in February 2023 put together a panel discussion for family firms, focusing on lessons learned from families who Read More...
Category: Practice Insight
Author: Jon Keimig