Simple techniques to enhance the governance of a family business
The use of simple governance techniques at a hypothetical family business (called ABC) will be beneficial. Good governance leads to a better relationship among stakeholders, increases the effectiveness of family institutions and board work and activates unknown potential at the firm through better principles and practices. Tools proposed are: (1) A new and flexible family business governance indicator, developed for this paper; (2) Hoshin management; and (3) Effective meeting technology. The three techniques interact in a systemic mode.