Family governance is a framework for joint decision-making among family members based on shared values, a common mission or purpose, and a collective vision for the family's future. It can help families recognise and manage their wealth, define roles, set boundaries for individuals and enable members to manage competing and interrelated interests. If implemented successfully, it provides a platform to allow families to resolve conflicts that would otherwise lead to dissolution or sale of the family enterprise, the destruction of family wealth and a breakdown of family unity.
· How often do you hold Board Meetings , Operational Meetings?
In my family business the board meeting are conducted every 6 months while the operational meetings are conducted every month.
· How are the meetings organized and who attends?
The board meeting are attended by all the top management of the company.
· Are the roles of Chairman and Chief Executive differentiated?
Yes , in my family business my unlce is the chairman while we have different chief executive officers
How are the roles of Directors defined?
· Do Directors have limited terms of office? No, in my family business they haven't.
· How are family Directors roles defined? There are no family directors