It is the Family Council’s mission to transfer values and traditions across generations Family Council – Overview CORE ELEMENT
Family Council
FREQUENCY OF MEETING In the beginning: every other month Once it has stabilized: 1 to 4 times per year depending on size of family and activities
FUNCTIONS Serves as an important communications bridge between the business and individual family members. Devises policies regarding family members’ behavior vis-à-vis the business, such as employment, use of the family name, and conflict of interest. Encourages cohesion
CORE DECISION AREAS
The family council must not exceed 10 members to preserve effective decision making.
Conduct of regular seminars to educate young members. Organization of task force to formulate policy to facilitate entry of new family members. Conduct of regular family activities to promote bonding.
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