Simple techniques to enhance the governance of a family business

Enrique Yacuzzi and Roberto Fernando Minguillón

No 517, CEMA Working Papers: Serie Documentos de Trabajo. from Universidad del CEMA

Abstract: The use of simple governance techniques at a hypothetical family business (called ABC) will be beneficial. Good governance leads to a better relationship among stakeholders, increases the effectiveness of family institutions and board work and activates unknown potential at the firm through better principles and practices. Tools proposed are: (1) A new and flexible family business governance indicator, developed for this paper; (2) Hoshin management; and (3) Effective meeting technology. The three techniques interact in a systemic mode. The indicator allows measurement of how family business governance evolves through time in a company and facilitates comparison between different companies´ governance. Most importantly, it is a checklist and roadmap to better governance. Hoshin management is a generic planning method that can be used to build a governance improvement plan. Effective meetings facilitate planning and control and in this sense they are a tool for governance improvement. This paper is mainly based on the following sources: IFC (2008), Yacuzzi (2005 b, 2007, 2008, 2012), Yacuzzi et al. (2011), Naiberger & Yacuzzi (2009). To an important extent, the paper´s organization is based on Yacuzzi (2012).

Pages: 56 pages
Date: 2013-08, Revised 2014-09
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Persistent link: https://EconPapers.repec.org/RePEc:cem:doctra:517

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