The family got clearer about its values as a…
The family got clearer about its values as a family, defining its family mission, vision, and values in an explicit family constitution. In addition to the owners' council, which represented the 250 family owners, they created a family council, representing all six hundred family members, and a philanthropy committee, with four G4 members and two from G5, to oversee the family's commitment to give away 10 percent of its profits. The family appointed a full-time family chairman, who was responsible for maintaining family harmony by policing the boundaries between family and business, mediating conflicts that arose, and facilitating the development of family members so that they could be qualified and productive when they served the business. The family chair was the key to establishing and sustaining the business-first orientation without discouraging family members from working in the business.
— from The Flight Plan (Purpose/Wisdom/Risk)
Also belongs to
- True North (Ethics, Integrity, Truth, Values)
- Time
- Family & Parenting (Family/Parenting)
- Friends, Community & Society (Relationships/Community/Society)
- Communication & Conflict (Communication/Conflict)
- Leadership & Business (Leadership/Business)