This one-day workshop explores the role of the director and the Board within individual and family-owned companies. Important aspects of the director’s role are the legal duties and changing architecture of governance, which have much to offer both start-up companies and established family-owned companies. The Institute of Directors (IoD) asserts that governance has an important role to play within unlisted and smaller enterprises if appropriate to both the stage of development of the Business and its current ownership structure. Introducing governance through an effective Board can reduce risk, rejuvenate entrepreneurialism, enhance strategic thinking and separate issues of ownership from those of directing. In a Family business it can also be seen to aid succession by ensuring that the right type of directors are in place to take the business forward in line with the family’s vision.
• Overview of relevant principles of governance for board effectiveness.• Directors’ statutory duties and responsibilities.• Why the company’s property belongs to it and not the shareholders.• Striking a balance between family control and effective management - people and processes.• The role of the Family Council.• The role of the independent NXD.• The role of the professional advisor.• Family Business Survival - energising succeeding generations.• Next Generation Leadership development.• Working with providers of private equity.• Family Business exits.
The workshop comprises short presentations followed by group discussions, exercises and case work. Delegates are encouraged to ask questions, challenge and contribute to discussions. Most importantly delegates will be encouraged to relate the concepts and discussions to their own situation and the context of their own organisation.
• Understand and be able to apply principles of Governance within the privately-owned company• Develop an understanding of the legal duties of a director• Appreciate the link between strategy, risk and compliance.• Consider company needs for future Board structure and Succession.• Developing a forum for discussing important family issues and getting the right kind of help to do so (NXDs & advisors).• Balancing family expectations with business needs• Energising and developing succeeding generations of leaders.• Confidence in considering equity investment and exit.• Guideline notes, reference and further reading including a copy of ‘The Resilient Director – Building an Effective Board’. • Opportunity to network with a group of other family business directors. • A chance to re-charge your batteries and reflect on the relevance of the role of the director and governance within your own organisation.
Mairi Mickel is a Family Business advisor with her own consultancy specialising in succession planning - Mairi Mickel’s Business Families. She tutors, speaks and publishes within the UK business sector on topics such as: Family Business Governance Structures, Family Business Leadership & Next Generation Development, Culture, Family Philanthropy and Educating Future Owners.
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