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Committee Structure and Participation Opportunities: Forms of “Appropriate” Family Governance for Dynastic Business Families

In: Managing Business Family Dynasties

Author

Listed:
  • Tom A. Rüsen

    (Witten/Herdecke University)

  • Heiko Kleve

    (Witten/Herdecke University)

  • Arist von Schlippe

    (Witten/Herdecke University)

Abstract

In this chapter, we address a key challenge facing family management in dynastic business families: establishing “optimal” governance structures while also providing a wide range of opportunities for family members to participate. This requires setting up smooth and legally compliant processes covering how decisions are made and how the large community of owners effectively performs tasks of governance control. At the same time, family management must develop formal and informal structures, processes and activities that enable individual shareholders to express their views on directional developments and decisions regarding the business as well as the community of owners. In this way, the members of the dynastic business family should feel involved in central decisions—within the framework of required structures—and feel that their views are heard. Establishing preconditions for decision-making while also enabling wider participation represents a fundamental and potentially paradoxical area of tension for family management in dynastic business families.

Suggested Citation

  • Tom A. Rüsen & Heiko Kleve & Arist von Schlippe, 2021. "Committee Structure and Participation Opportunities: Forms of “Appropriate” Family Governance for Dynastic Business Families," Management for Professionals, in: Managing Business Family Dynasties, chapter 4, pages 33-45, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-030-82619-2_4
    DOI: 10.1007/978-3-030-82619-2_4
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