Date Added: Dec 2009
Families are about caring and businesses are about money - not a likely formula for a successful partnership. Unfortunately those are the facts and family enterprises around the world have found that planning for these two often-conflicting systems is the key to family harmony and business success. The new Parallel Planning Process is an improved version of a proven tool for aligning the family and business systems' thinking and planning into a comprehensive family enterprise plan. The paper discusses how successful business families develop plans and actions to ensure owner and leadership transitions that promote family harmony and sustain business performance.