Services

By: The Mcgowan Group  09-12-2011
Keywords: succession planning, Succession Plans, Governance System

Entrepreneurs, families in business and families of wealth face many unique issues. Careful planning is required to address these often personal issues. Through facilitated sessions, we can help you to create comprehensive plans for:

Succession Planning

Statistics show that, despite the owner's intention to transition out of the business, proper succession plans are not being developed. Without effective plans, many businesses are set to fail.

A succession plan is more than just a tax plan. An effective succession plan takes into account, not only the owner's objectives, but also the objectives and perspectives of other stakeholders. Based on these objectives, a comprehensive plan can then be created and successfully implemented.

Governance

A well structured governance system promotes harmony within the family and the business. It can be an effective conflict resolution mechanism, and also help improve communication, promote accountability and generate a sense of direction.

Good governance can also be responsible for organizational effectiveness, which often leads to increased profitability. A recent study found that the top 25 "best governed" Canadian corporations achieved a 74% three-year rate of return on investment, compared with a 19% return for the 25 worst governed corporations. (report published in Canadian Business magazine, 2002).

Communication

Good communication, despite sounding easy, is often difficult to achieve. Some common pitfalls in achieving good communication include the fear that communication will make things worse, patterns of communication and conflict styles, hidden personal issues and misinterpretation.

Open communication is vital to achieving success. Developing good communication habits requires practice. We can provide you with the tools to improve your group's communication skills.

Family Wealth

Your hard earned efforts have now produced sufficient wealth to provide for your family and future generations. The responsibilities of managing your wealth, however, now produce challenges different than those encountered in creating the wealth.

Keywords: Governance System, succession planning, Succession Plans,

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Other products and services from The Mcgowan Group

09-12-2011

Workshops

Workshops can also provide an opportunity to take concepts learned and translate them into practical applications that make sense for your unique circumstances. We work with you to design workshops that are engaging and interactive and may include guest speakers, case studies, and projects. At The McGowan Group, we offer a series of engaging and interactive workshops that balance concepts with practical application.


09-12-2011

Family Wealth

To help make sure that wealth survives the generational transfer and endures for generations to come, our facilitators also work with families to develop plans that will help ensure children inherit not just financial wealth but many other capabilities with a view to achieving the highest and best purposes for their inheritances.


09-12-2011

Charitable Giving Corner

Whatever your motivations, this page will highlight some common considerations when planning your charitable gift giving, as well as some additional resources to assist you and your family make the most of your gift. You may have many motivations for charitable giving including maximization of tax benefits, a feeling of social responsibility, or desire to give back and make a difference in your community.


09-12-2011

Communication

Through a series of facilitated sessions, our facilitators/we will help you identify and address particular issues that are blocking your road to progress in a constructive, collaborative atmosphere. With full information, we can avoid misunderstandings, gain a better understanding about what is happening in the business, and make effective decisions.


09-12-2011

Succession Planning

Whether you are considering transferring the business to the next generation, having key management buy the business or positioning the business for sale to a third party, we facilitate family meetings to discuss the implications of each option so you can make an informed decision about what makes sense for you and your family.


09-12-2011

Governance

A formalized board of directors can improve business functioning; outside directors may also benefit a company by providing experience and expertise, objectivity, creative thinking and effective decision making, and flexibility to allow the owner-manager to pursue other business opportunities while still maintaining control.