Harilela Case Study
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1) The family business faced issues from unequal shareholding among the six brothers and lack of formal processes for evaluating performance. It was recommended to hold annual meetings to reassess shares based on contribution. 2) Informal management could become problematic as the family grew, so establishing clear rules was suggested to avoid future disputes. 3) The business considered diversifying too much after starting in different sectors like tailoring and hotels. It was recommended to focus on one core business instead.
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Les MUST of Family Businesses- HOT EXECUTIVE TOPS.pdf
Planning, starting, operating and retiring from a family business can be difficult. Issues such as succession and pay, corporate governance and recruiting top talent pose special problems for these kinds of organizations. Rivalry among siblings who inherit a family firm is often the kiss of death for even the strongest family business. Nonfamily members, even those who are senior executives or directors, often feel that the family treats them unfairly or fails to listen to them.
In this guide, Dr. Salim Hajje analyzes and provides excellent advice about how to solve such seemingly intractable problems. His suggestions come out of his long experience successfully advising family-run businesses in the MENA region. We recommend this sage and savvy guide to family-business founders, successors, inheritors and nonfamily executives or directors.
In this guide you will learn:
- What makes family businesses special
- What kinds of problems they face?
- Why the issue of succession is a major challenge for these businesses
- Why family businesses should bring in outside directors to supply disinterested advice
7 common mistakes small business should avoid
The document outlines 7 common mistakes that small businesses should avoid. These include having an ego that prevents accepting input, failing to create a strategic plan, having a poor online presence, hiring too quickly without properly screening candidates, failing to raise sufficient startup funds, neglecting existing customers, and hastily expanding into new markets or launching new products without thorough research. The key advice is to have an open mindset, carefully plan strategy, establish an online presence, selectively hire the right people, obtain adequate funding, focus on customer retention, and conduct research before expanding.
Five keys to achieving entrepreneurial excellence
This document provides advice from successful entrepreneurs on keys to achieving excellence. [1] Carol Frank outlines five rules learned from mistakes including not believing bigger is better, putting all eggs in one basket, neglecting employees, trusting everyone, and ignoring finances. [2] Mark Graham discusses ten "commandments" Goldman Sachs used for business growth such as focusing on important clients and relationships. [3] Ravi Todi explains how embracing change, like merging his company, allowed for growth. [4] John Jankowski draws parallels between motorcycle racing and business regarding preparation, managing fear, and focus. [5] Michele Hecken outlines steps for leading a company while traveling including maintaining communication and transparency.
The-Weakness-of-a-Filipino-Entrepreneurship_20240221_113103_0000.pptx
This document identifies and discusses 13 common weaknesses of Filipino entrepreneurs. These include: 1) multitasking to the point of being distracted, 2) demanding perfection, 3) strong convictions bordering on stubbornness, 4) not being a team player, 5) being overconfident or egotistical, 6) procrastination, 7) paranoia, 8) poor work-life balance and being a workaholic, 9) being overly emotional or temperamental, 10) having a biased perspective, 11) poor time management, 12) weak administrative skills, and 13) lacking sales skills. The document provides examples and explanations for each weakness.
Family Business - Entrepreneurship Development
This document provides an overview of family businesses. It begins by defining a family business and explaining their importance. It then discusses the different types of family businesses and family business owners. The document outlines the responsibilities and rights of family business shareholders. It also covers succession in family businesses, including the importance of planning and some strategies to ease the transition process. The document discusses some common pitfalls of family businesses and provides strategies to improve their capabilities and performance. Finally, it lists some rules that can help family businesses succeed across generations.
Succeeding in Succession
The document provides guidance on maintaining family harmony during the succession planning process for a family business. It emphasizes the importance of open communication between all family members, including those involved in management and those who are owners. It recommends establishing regular family meetings with set agendas to discuss both business and family matters in a transparent way. This allows different views on issues like reinvesting profits or transition plans to be heard from all sides. The examples show how both a daughter running the business and her non-involved brother feel there is a lack of discussion and transparency currently. The advisor recommends the family begin holding formal meetings to improve understanding and prevent disputes over the business.
Business Partners Blue Paper
This document discusses finding and choosing the right business partner. It examines the different types of business partnerships, including general partnerships, limited partnerships, LLCs, LLPs, and strategic partnerships. The key benefits of partnerships include balancing skills, sharing costs and risks, developing better ideas, and expanding networks. However, partnerships also carry disadvantages like potential relationship issues, financial risks, loss of independence, and difficulty resolving conflicts. The document provides questions to consider when evaluating potential partners and determining what type of partnership would be the best fit.
Business Is a Contact Sport
Original article from the Flevy business blog can be found here:
http://flevy.com/blog/business-is-a-contact-sport/
Too many businesses, young or old, struggle or fail because they never understand that you have to practice, practice, practice, then get in the ring and fight as if your life depended on it!
Business is a brutal contact sport for five main reasons, and it’s getting worse. You will not survive, grow and prosper:
1. if you don’t listen to and learn from your customers and others who know more about them than you do
2. if you can’t sell to customers empathically and build their sustained trust and loyalty
3. if you don’t understand and outmanoeuvre the competition in whatever form it comes
4. if you don’t learn fast and adapt by experimenting, finding out what works, and perhaps even more importantly, drop like a stone your cherished preconceptions, prejudices and sacred cows that don’t or won’t work
5. if you can’t retain, motivate and enthuse great staff.
If you want to win, and go on winning, be prepared. It will bruise you like going 15 rounds with Muhammad Ali!
The bewildering choice available to customers and their ability to gather and test information rapidly via the Internet are ruthlessly exposing weak business models, knowledge, thinking, attitudes, character, messages and behaviour like never before.
On 1 st January, my 4 business partners and I officially re-launched my company Resolve Gets Results to address the same three problems we constantly encounter in businesses we work with, which drive us crazy!
• They are obsessed with their product or service, which they assume everyone will love like they do, not with customers.
• They are dangerously preoccupied and distracted by internal perspectives (what I call ‘inside-out thinking’), including unrealistic financial objectives, restructuring, unsubstantiated opinions, personalities, personal crusades/ego trips, power struggles and politics.
projet1
This document summarizes key aspects of entrepreneurship and small business management. It discusses what entrepreneurship is, typical characteristics and backgrounds of entrepreneurs, and common myths. It also outlines what makes small businesses special, including their size and ownership structure. Finally, it provides an overview of how to start a new venture, including important considerations, developing a business plan, forms of legal ownership, and financing options.
Organization for Wealth
How one professional firm went from start up to $65 million in 10 years. Organizational design matters when it comes to growing and developing professional staff.
Chap. 6 the struggle for survival and prosperity
This document discusses problems that small and large firms may face and how to address them. For small firms, key issues include lack of competitive advantage, reliance on assumptions instead of facts, poor or no planning, lack of professional advice, capital and cash flow issues, and managerial challenges. For large firms, stated objectives and policies, lack of direction, functional problems, people issues, lack of marketing focus, poor controls, and unrealistic visions can be problematic. The document provides questions and strategies to help firms address these issues to survive, grow, and make a profit.
Exit: Selling Your Business for Maximum Price
1) The document provides advice on selling a business for maximum price, discussing reasons for selling, the best timing, valuation methods, finding buyers, and preparing the business and sale process.
2) Key points include that the best time to sell is when the business is performing well and prospects are bright, and that the only way to determine actual maximum value is by creating a competitive market through running a transaction process.
3) Valuation estimates can be made using earnings-based approaches like discounted cash flow analysis or capitalization of earnings ratios, and market-based approaches like comparable public company analysis, but the actual sale price depends on generating buyer interest and competition.
Common Pitfalls of a Small Business
Looking for more ways to grow your business? Why not let a lending company help you with your working capital? Visit
www.esquire.com.ph for more details.
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Les MUST of Family Businesses- HOT EXECUTIVE TOPS.pdf
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Women In Business Presentation Green Team W
Women face challenges in business such as gender discrimination, lack of access to capital, and difficulty competing for government contracts. They also experience hostile work environments and need to work harder to prove competence. However, in a family business context, women have advantages over non-family members to expand their careers through easier access to mentoring, training and networking opportunities from owners and senior managers. Their earning and status also depends more on their role than on gender. Common strategies for women include seeking mentors, supporting programs, and promoting female traits needed in modern organizations.
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Harilela case study
1) The family business faced issues from unequal shareholding among the six brothers and lack of formal processes for evaluating performance. It was recommended to hold annual meetings to reassess shares based on contributions.
2) Informal management could become problematic as the family grew, so establishing clear rules was suggested to avoid future disputes.
3) The father started too many businesses despite earlier failures, causing disagreements among sons who later separated businesses. It was recommended to focus on one main family business.
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The document summarizes the history of a family tobacco business in Argentina over five generations. It discusses key issues facing family businesses, including a reluctance to appoint non-family CEOs, poorer performance under family CEOs, and increased profits when led by non-family management. The business ultimately failed due to psychological, legal, and administrative/technological factors such as resistance to change, unclear roles, and inadequate leadership from family members.
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