Valencia, November 22 2021. La Chair of Family Business (CEFUV) presents a new Workbook entitled "The organs and instruments of government of the family", prepared by Tomás Guillén, general director of Grupo IFEDES, and Alejandro Escribá, Professor at the University of Valencia and director of the Chair of Family Business.
The Notebook is part of the work and dissemination activities of the CEFUV, promoted by the Valencian Association of Entrepreneurs (AVE), the School of Entrepreneurs (EDEM), the Valencian Institute for the Study of Family Business (IVEFA), the Institute of Family Business (IEF) and the University of Valencia (UV), and which has the sponsorship of CaixaBank and Broseta
Guillén and Escribá explain that the Family Assembly, a body of rigorous family character, has two relevant functions: to promote values within the family and to reflect on the interests of the family.Its functioning and effectiveness must be based on a number of key aspects: communication, continuous listening to family members, debate on proposals from other bodies and the cohesion of family values to the company. This notebook highlights the importance of government bodies and their role in continuity in family businesses showing that currently family bodies are very little used, less than 15% of family businesses have family councils or protocols.Therefore, the objective of the notebook is to bring business families closer to the characteristics and functions of the main organs and tools that are useful for governing or managing the relationship between the family and the family business or businesses that are their property.
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They also present the Family Office as an investment and management instrument of the family legacy that is created in order to serve both the company and the family, and must be separated from the main business. This body usually performs different functions such as the management of family assets, investments and intra-family transactions, as well as attention to taxes, insurance and advice due to business families. For its part, the Family Council is one of the family governing bodies that is gaining more popularity, as it is very useful as a tool for union and connection between the family and the company. The authors identify two areas in their functions: the field of organization and the field of emotions.In this council must be represented all parts of the family involved in the company, regardless of whether these relatives perform a work activity or not within the company.
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In conclusion, it is highlighted that the use of one or other governing bodies of the family-company relationship depends on the preferences, needs and characteristics of each business family and as well as the characteristics of their business project. Each one will find among them, those options that may be most useful to start walking the road. Finally, they present the main features of the Family Protocol which, without being a governing body, is a useful tool with which the family establishes in writing the issues and agreements in which it wishes to have a regulation, thus serving as support to the government of the family-business relationship. When elaborated from agreement and continuous communication (often achieved in the family council), and kept alive through periodic reviews, it becomes a very useful tool for conflict prevention and resolution.
THE WORKBOOKS OF CEFUV
The workbooks are part of the publications of the chair whose objective is to bring family businesses closer to some of the aspects that can help improve their competitiveness and / or their durability.
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