Family Business Essay
Management Issues In The Family Business
MGT-6340
Dominique Swaffin-Smith
Word count:
2650
Submitted by E Pahlsson
Content
1. Theory of discussion 2. Corporate governance 3. Family governance 4. Social responsibility 5. Philantrophy 6. Financial performance 7. Berry Bros & Rudd limited 8. Conclusion
Introduction
This report is intended to provide the reader with a discussion of the core areas of interest in terms of assessing a family companies performance. We have selected, Berry Bros & Rudd Limited to assess the family governance, corporate governance and social responsibility. The report starts with a brief illustration of interesting areas of the family business continuing with an overview of the family business and a final analysis providing the reader with unique governance systems and social responsibility taken to a wide extent to make a perfect example of contributing to corporate performance, externally and internally, among employees, shareholders and suppliers.
Corporate governance
Corporate Governance is the principle by which the board is expected to effectively oversee and direct the activities of the corporation. Corporate Governance refers to the relationship the relationship between the corporation and the shareholders, and the ability of the company board/ executive to meet shareholders’ need and that the corporation will meet all of its legal and ethical requirements. Corporate Governance involves the responsibility of the corporation to meet the needs of employees, family or non-family members, other stakeholders and the society in general. ( Anand,2009)
By adapting an effective corporate governance system it enables a family company to solve the challenges easier. Corporate governance generates a sense of direction and tells the organizations members how they should behave or how they should behave or what they should do in certain circumstances. In addition a well-developed corporate governance
MGT-6340
Dominique Swaffin-Smith
Word count:
2650
Submitted by E Pahlsson
Content
1. Theory of discussion 2. Corporate governance 3. Family governance 4. Social responsibility 5. Philantrophy 6. Financial performance 7. Berry Bros & Rudd limited 8. Conclusion
Introduction
This report is intended to provide the reader with a discussion of the core areas of interest in terms of assessing a family companies performance. We have selected, Berry Bros & Rudd Limited to assess the family governance, corporate governance and social responsibility. The report starts with a brief illustration of interesting areas of the family business continuing with an overview of the family business and a final analysis providing the reader with unique governance systems and social responsibility taken to a wide extent to make a perfect example of contributing to corporate performance, externally and internally, among employees, shareholders and suppliers.
Corporate governance
Corporate Governance is the principle by which the board is expected to effectively oversee and direct the activities of the corporation. Corporate Governance refers to the relationship the relationship between the corporation and the shareholders, and the ability of the company board/ executive to meet shareholders’ need and that the corporation will meet all of its legal and ethical requirements. Corporate Governance involves the responsibility of the corporation to meet the needs of employees, family or non-family members, other stakeholders and the society in general. ( Anand,2009)
By adapting an effective corporate governance system it enables a family company to solve the challenges easier. Corporate governance generates a sense of direction and tells the organizations members how they should behave or how they should behave or what they should do in certain circumstances. In addition a well-developed corporate governance
Bibliography: Anand,S (2008). Essentials of Corporate Governance. New Jersey: John Wiley & Sons. p79-90. Aronoff,C.E and Ward, J.L (2008). Family Business Governance. Maximizing Family and Business Potential. 2nd ed. London: Wiley Ciconte, B.L and Jacob. J.G (2009). Fundraising Basics, A complete Guide. 3rd ed. Sudbury: Jones and Bartlett Publishers. p34-36. Wickham, P.A (2000). Financial Times Corporate Strategy Casebook. Harlow: Pearson Education Limited. p 134-137. Tierney, T.J and Fleishman, J.L (2011). Give Smart: Philanthropy That Gets Results. United States: Marrathon Production Services. p.1-2. Poza,E.J (2010). Family Business. 3rd ed. Canada: South-Western Cengage Learning. Rainey,D.L (2006). Sustainable business development. Cambridge: University Press.p 34-36, 55. Kotler, P and Lee,N (2005). Corporate Social Responsibility. New Jersey: John Wiley & Sons. p32-35. J.P Morgan IFB Family Business Honours 2010, Case studies of 2010 winners http://www.ifb.org.uk, viewed on 18th of May.2010