Family Business Advising


Family-owned businesses are a large and growing force in Asia. Approximately 60 percent of private-sector companies with revenues of $1 billion or more were owned by founders or families in 2010. Family-controlled companies offer advantages due to their deep understanding of their countries and industries, as well as considerable influence on regulators. They utilize decades of deep personal relationships with stakeholders across the value chain, and are able to stay resilient through economic crises. 
 
The advantages of family businesses are clear: they are run with greater accountability and stronger commitment than their publicly-held counterparts, where a personal commitment from the owner of a family business is as powerful as a signed contract. Decisions can be made quickly without the need to pass through a chain of command or to put them in front of an uncooperative board. In Asia, these companies are stronger than their non-family counterparts on several specific management practices, including shared vision, strategic clarity, employee involvement, and creativity and entrepreneurship.
 
On the other hand, challenges within family businesses need to be handled with care. Many of the typical issues that families will face include:
  • Corporate Governance
  • Strategic Planning
  • Succession Planning
  • Executive Team Development
  • Transparency and Employee Involvement
  • Change Management
Dew-Point has been supporting both non-family owned and family-owned businesses for decades. Being a family-run business ourselves, our key consultants have been able to connect with family business owners as they tackle their unique challenges.
Heidi Adick achieved her Certificate in Family Business Advising from the Family Firm Institute in 2011.