Seminar on how to run successful family businesses set

The most successful family businesses that lasted for generations have the right family governance system and a solid family constitution.

To help people with this, the Center for Global Best Practices (CGBP) is holding a special seminar entitled “Best Practices In Family Business Governance & Crafting of Family Constitution” scheduled on Oct. 22 at the Makati Diamond Residences.

To run the family business successfully, it is important to first manage all family business stakeholders effectively. Having the right family governance framework is the answer.

It’s been proven worldwide that those family-owned companies who have instituted the right family governance system are stronger and more united as a family in business, better at resolving conflicts, more competitive compared to others, are able to rapidly grow their businesses, have faster and better quality of decisions and more effective with their board and stakeholders.

Resolving conflicts and uniting family members is commonly a major issue. The most effective solution to this is having a family constitution.

When crafted properly, it’s a powerful tool to resolve all issues among family business members.

It is the bible that everyone needs to refer to when making decisions.

Make sure your family has one. It should be the first one that every family business should put in place when starting an enterprise.

Embodied in this document should include what are important for everyone such as values that the family and business must uphold, the roles and responsibilities of owners, directors, and stakeholders and the rules that all must follow.

In this program, the CGBP will teach you all of these, including how to create family councils, address family assemblies and meetings, and resolve business issues among family members effectively.

Those who have built family business empires such as the Ford, Rockefellers, Walton of Walmart, the Ayalas, Aboitiz family and many others have it.

Whether you are the founder, business owner, director, family business member, executive or non- executive next generation shareholder, or nonmanagement extended relative stakeholder, this special seminar workshop will surely set you on the right course towards a longlasting business.

For details and a complete list of best practices seminars you may log on to www.cgbp. org or call (02) 842-7148/ 59 and 556-8968/ 69, Cebu lines: (032) 512-3106 or 07 or Baguio line: (074) 423-5148.