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2011 | Buch

Introduction Kapitel lesen Erstes Kapitel lesen

Effective Leadership in the Family Business

verfasst von: Craig E. Aronoff, Otis W. Baskin

Verlag: Palgrave Macmillan US

Buchreihe : A Family Business Publication

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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Über dieses Buch

Identifying and developing leaders in a family business can be more difficult than traditional business. Here Aronoff and Baskin discuss the different styles of leadership and what style might work with what family member including the Directing Leader, the Coaching Leader, the Counseling Leader and the Delegating Leader.

Inhaltsverzeichnis

Frontmatter
Chapter 1. Introduction
Family Business Leadership Is a Unique Proposition
Abstract
Loretta, a daughter who succeeded her father as the CEO of the family’s business, has tried to emulate his decisive, autocratic way of running things. After all, wasn’t it his style of leadership that made the business the success it is today? But instead of moving forward, the business seems to be going sideways. Some of the key employees seem frustrated, and Loretta’s siblings act resentful and spiteful. Her brother, a co-owner, recently snapped at her. “You think you’re Dad just because you got his title?” he said. “Well, let me tell you something. You may try to imitate him but that doesn’t mean you are him.”
Craig E. Aronoff, Otis W. Baskin
Chapter 2. Wanted
An Assortment of Able Leaders
Abstract
People tend to focus a lot of attention on succession in a family business—that is, who in the next generation will succeed to the top leadership position. This is important, but it can be too narrow a focus, especially if being named the successor CEO is viewed as “THE prize” and the CEO is venerated more than other family members.
Craig E. Aronoff, Otis W. Baskin
Chapter 3. Understanding the Demands of Leadership
Abstract
When Anil Nanji assumed top leadership of Magnet Sales & Manufacturing, Inc., on his father’s death, he found he could not adopt his father’s style of leadership. He admired his father. “He was a very dynamic person, very energetic, very committed, and actually a very good role model in many ways because he was very much on the straight and narrow. He always had a lot of integrity,” Nanji told Nation’s Business magazine.
Craig E. Aronoff, Otis W. Baskin
Chapter 4. What Makes Leaders Effective?
Abstract
As the previous chapter suggests, there is no one “sure” style of leadership, and no single leader can serve as a model for everyone. Instead, there are many great leaders to draw on. Their examples can inspire you to adapt the four styles of leadership to your own skills and personality. We are deliberate in saying “styles,” plural, because we believe effective leadership is situational. That is, it changes with the situation, whether the situation is a first-, second-, or third-generation company, a business in crisis, a business that has plateaued, a small business, a startup, or an established company, an experienced workforce or an inexperienced one. Instead of relying on one style, outstanding leaders develop the ability to use all four styles of leadership and choose the best one for the circumstances.
Craig E. Aronoff, Otis W. Baskin
Chapter 5. Where Leadership Comes From
Abstract
Leaders can come from almost anywhere in a family business system. It is important to develop a sense for recognizing leadership when you see it and recognizing leaders who can provide it. When a business-owning family does that, it enhances its ability to nurture and select effective leaders. The point is not to pass up good leadership when it’s right under your nose.
Craig E. Aronoff, Otis W. Baskin
Chapter 6. Never Underestimate the Power of Family Leadership
Abstract
What is the secret to long-lasting success in a family business? Many family business owners will tell you that it’s a healthy family—one in which family members care for one another, have fun together, put the good of the family above personal self-interest, see to the development of all individuals so that they can reach their full potential, communicate effectively with one another, and make decisions as a group about matters that concern them all.
Craig E. Aronoff, Otis W. Baskin
Chapter 7. Developing Tomorrow’s Leaders
Abstract
What can members of the senior generation do to help young leaders emerge? Plenty.
Craig E. Aronoff, Otis W. Baskin
Chapter 8. Preparing Yourself for Leadership
Abstract
Whether or not you become a leader is up to you. Even people who have leadership “thrust upon” them must make a decision whether or not to accept the role.
Craig E. Aronoff, Otis W. Baskin
Chapter 9. Following the Leader Is Leadership, Too
Abstract
It’s often said that to be a leader, you have to have followers. In our view, being a follower is by no means a minor role. When you’re a good follower, you are, at the same time, exhibiting leadership. Consider these two scenarios:
Scenario #1. In a decision engineered largely by his father, Thorn, 38, has just been appointed the CEO of his family’s business. This is a disappointment to his two brothers, who had their own hopes of being named to the top post. The younger brother, Keith, swallows his disappointment and continues on as marketing chief. “Maybe Thorn will screw up and I’ll get the chance to run this company,” he says to himself, chuckling. “Maybe I can even help him screw up.”
Thorn’s older brother, Milt, takes the decision hard. He complains bitterly about Thorn’s shortcomings to anyone who will listen—his wife, his children, his mother, other family shareholders, and board members. He threatens to leave the company. A newspaper reporter gets wind of the conflict and publishes an unflattering story. Non-family employees, fearing a company meltdown, start to search for other jobs. Thorn finds himself in the uncomfortable position of having to reassure bankers, suppliers, and customers that the company is stable.
Craig E. Aronoff, Otis W. Baskin
Chapter 10. Overcoming Impediments to Leadership
Abstract
The deck is stacked/or leadership in an organization. The organization may not favor any specific person for leadership, but people in organizations seek leaders. So, the opportunity to lead is there, the role of leader exists, and somebody needs to play it. If nobody plays it, you have a severely weakened organization.
Craig E. Aronoff, Otis W. Baskin
Chapter 11. Summary
Abstract
A family business demands some extra dimensions from its leadership because the nature of family firms is different from that of other businesses. Family companies consist of three overlapping systems: the business, the ownership, and the family. The leaders of each system must not only have the talent and skills to lead their own entity but also need to possess some knowledge of and sensitivity toward each of the other systems. And, because family members are so committed to and involved in the business, there are more emotional factors for leadership to deal with.
Craig E. Aronoff, Otis W. Baskin
Backmatter
Metadaten
Titel
Effective Leadership in the Family Business
verfasst von
Craig E. Aronoff
Otis W. Baskin
Copyright-Jahr
2011
Verlag
Palgrave Macmillan US
Electronic ISBN
978-1-137-51494-3
Print ISBN
978-0-230-11117-2
DOI
https://doi.org/10.1007/978-1-137-51494-3