S&W The Pulse

Last episode we talked about the need for good governance structures and where family businesses should start. This week we’re focusing on the upsides of good governance – the advantages it can bring to a family business.Key questions raised in this episode:[0:48] This episode we are focusing on the positives from governance, with that in mind, can you talk about how governance and ‘purpose’ interact for family businesses?[2:00] Presumably this ‘purpose’ should run through the DNA of a family business – what does this look like in practice?[3:40] What are the risks of not having that sense of shared purpose?[4:58] How does a family decide on the purpose of a business? What are the best ways to embed it in the governance structure?[6:30] What is good practice in terms of family meetings? How important are they?[8:15] How do the most successful family businesses collaborate?You can read the full Family Business Survey here: https://bit.ly/3kuu3yQSOCIAL MEDIA:Twitter - @SmithWilliamsonLinkedIn - @Smith&Willi