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Family Business Review | 2005

Fair Process: Striving for Justice in Family Business

Ludo Van der Heyden; Christine Blondel; Randel S. Carlock

The social science and business literatures on procedural justice or fair process attest that improvements in procedural fairness can be expected to improve both a firms performance and the commitment and trust of the individuals involved with it. This article examines the relevance of procedural justice for family business. When a family is an influential component of a particular business system, the application of justice is typically rendered more complex than might be the case for nonfamily firms. Different criteria (need, merit, and equality) guide the application of distributive justice among families, firms, and shareholders. This divergence in criterion also lies at the heart of many conflicts inside the family business. In this article, we argue that the application of procedural justice reduces occurrences of conflict and, in some cases, may eliminate conflict altogether. We propose a definition of fair process that extends and enriches the one existing in the literature. We offer five fundamental criteria essential to the effectiveness of fair process in family firms. We conclude with a series of case studies that illustrate typical questions faced inside family businesses. We show that a lack of fairness in the decision and managerial processes governing these businesses and their associated families is a source of conflict. We describe how increasing fair process practices improves the performance of these businesses while also increasing the satisfaction of those associated with them.


Archive | 2010

When Family Businesses are Best

Randel S. Carlock

Families are about caring and businesses are about money - not a likely formula for a successful partnership. Unfortunately those are the facts and family enterprises around the world have found that planning for these two often-conflicting systems is critical to family harmony and business success. The theme of this article is that business families need a planning approach that provides rigor and consistency to drive their thinking, strategies and actions for the family and business systems. We advocate a parallel process-driven approach because the systems need to be aligned. In addition, focusing on process (how they do it) rather than content (what they do) better reflects the needs of different cultures, family experiences and economic systems. When a family works together to craft their own strategies based on their situation and family goals it creates commitment and a unity of purpose.


Archive | 2005

Assuring a Healthy Business

Randel S. Carlock; John L. Ward

Enduring family enterprises require a healthy business. Many family enterprises stay small, scaled to fit an economic niche and support a single family. Small family enterprises can exhibit remarkable longevity, without ever growing. For example, there are ten French and Italian wine producers that are more than 200 years old.


Archive | 2016

Leadership Coaching in Family Businesses

Randel S. Carlock

Consultants and coaches brought in to help resolve a family business dilemma are often faced with an enigma wrapped in a riddle. As advisers, do we privilege the family perspective, and concern ourselves first with emotional issues and the well-being of family members? Or should we focus on the organizational context, putting the highest priority on strategic planning and financial concerns for the business? There are no easy answers. Working with families who own or control businesses is more of an art than a science, requiring skills that each coach or adviser must develop for him- or herself through study, experience, and reflection.


Archive | 2010

Family and Business Vision: Exploring Family Commitment

Randel S. Carlock; John L. Ward

“We will build stores in small, rural towns-skipping the major cities-and overtake Sears within 30 years.” When Sam Walton uttered these words to a small group of trusted employees, few people outside of Arkansas believed that Walmart had much of a chance of displacing Sears as the world’s largest retailer. But what others thought didn’t matter because Sam was concerned about encouraging his employees and family to believe in something bigger than a handful of stores. He knew his innovative strategy of building big stores in small towns would capture market share if his team believed in it. His vision became the criterion for measuring all of their decisions: does this action support us in becoming the largest retailer in the world?


Archive | 2010

Investing for Family Business Success

Randel S. Carlock; John L. Ward

We have all heard the old maxim about how the first generation makes it, the second generation protects it, and the third generation spends it. Around the world there are similar expressions to communicate this three-generation pattern of business growth, investment maturity, and harvest: shirt sleeves to shirt sleeves, camel to camel, stable to stable, clogs to clogs, rice paddy to rice paddy. In other words, members of the third generation end up where their grandparents started, unless they do something special — like invest. The fact is that very few firms, whether family controlled or widely traded, survive for more than 50 years or three generations.


Archive | 2010

Family Values and Business Culture

Randel S. Carlock; John L. Ward

The importance of family business values was clearly demonstrated by Whitney MacMillan, the last family CEO of Cargill, when he stated, “As a company, we have believed in the same values for 125 years, even though we have changed the business every five years.” It is natural to explore family values at the start of the Parallel Planning Process because planning represents how the family perceives itself, what is important, and how it behaves. Family businesses, like all for-profit organizations, are driven by values related to competition, wealth, responsibility, fairness, and hard work. Counterbalancing these economic priorities are family values about love, cohesion, self-esteem, and caring.


Archive | 2010

Family Governance: Family Meetings and Agreements

Randel S. Carlock; John L. Ward

The following newspaper report tells the story of a nightmare caused by weak family and business governance that allowed an ownership conflict to turn into a lawsuit that eventually led to a judge splitting the business’ assets and ownership.


Archive | 2010

Family Business Governance and the Role of the Board of Directors

Randel S. Carlock; John L. Ward

Ten years ago when Waleed Al Said, aged 68, became CEO of the World Trading Company, he organized a management board that included: his older brother Hammad, 72, the former MD, as chairman; his younger brother Hussam, 64, a sales director for the last 20 years; Khaled, a cousin, 59, chief accountant in the firm; and two non-family employees, the commercial director, aged 58, and finance director, aged 66.


Archive | 2010

Family Strategy: Planning the Family’s Participation

Randel S. Carlock; John L. Ward

Five years ago the Wates Group was facing a dilemma. One of the UK’s oldest and largest construction groups, it had been controlled by its founding family for more than a century. But now the five senior family leaders and owners were beginning to contemplate retirement. While several members of the next generation worked in the business, none had served in senior management or as directors — and there was uncertainty about who was interested in or capable of filling leadership and governance roles.1

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