Professionalize your family business the right way

If you want to achieve your bigger ambitions and sustain the continued growth of your family business, you need to professionalize it the RIGHT way.

According to Eric Flamholtz, author of the book Growing

Pains, businesses go through stages of development: new venture, expansion and growth stage, then comes professionalization. It is during this phase that the need to make the transition from entrepreneurship to a professionally managed, entrepreneurially oriented organization begins to occur.

To address the clamor of founders, family members of second, third, and fourth generation, business owners, entrepreneurs and anyone who wanted to learn the science of professionalizing family businesses, the Center for Global Best Practices will host a pioneering training entitled, Professionalizing the Family Business – The RIGHT Way to be held on March 8, at the Manila Marriott Hotel, Pasay City.

Check www.cgbp.org for a complete list of Best Practices programs. You may also call land lines in Manila (+63 2) 8427148/59 and (+63 2) 5568968/69, in Baguio (+63 74) 4232914, in Cebu (+63 32) 5123106 or 07, or Legazpi City (+63 52) 7360148.

As the company cannot merely add people, money, equipment, and space to cope with its development, it must undergo a transition or metamorphosis to a more improved organization. This way, business owners can confidently turn over its business to the next generation of owners and to ensure the longevity of one’s organization.

This special program will feature, Jacob Cabochan, director of the Family Business Development Center of the John Gokongwei School of Management at the Ateneo de Manila University (20122013). He specialized in family enterprise management, professionalizing the family business and crafting family constitutions. He completed his Bachelor of Science (magna cum laude) in management from ADMU. He also holds a certificate on Family

Business Advising from the Family Firm Institute (FFI) Boston, MA and on Family Dynamics and Counseling from the Center of Family Ministries, ADMU.