Thursday, November 28, 2013

Struggling Sibling Partners: It's Not Fair?

CARLOCK Randel
©2013 INSEAD Case Study

Struggling Sibling Partners deals with the difficulty of creating a sense of fairness in family business relationships. The case explores the challenges of leading and governing a family business equally owned by three siblings. It is used as an introduction to the concept of Fair Process, at the core of INSEAD's work with family businesses. Developing a sense of fairness is the critical goal of family business governance processes, including family meetings and councils, boards of directors and family constitutions.

Pedagogical Objectives: To demonstrate the value of applying Fair Process to family relationships; To apply Fair Process principles to family business situations; To recognize the value of communication, clarity, consistency, changeability and a culture of fairness; To balance individual and family branch interests.