Family Leadership Strategies

39 A constructive starting point is to agree on what constitutes a successful transition for the family. With many families, this conversation begins among the most senior members and then it expands out to next generation members. Families should gather in groups small and large to consider such questions as: • Where do we see the family in ten and fifty years’ time? • What are the family values we most cherish? • What is most important to preserve within our family? • What about our family has allowed us to flourish and succeed? • How can we better position the family for an uncertain future? It is advisable to attempt to reach consensus around core values and principles without getting toohung-uponwordingor priorities. Instead, the rangeof responses should be listed and follow-up meetings arranged to allow all family members to reflect upon, and then revisit their input, gradually reaching agreement on core values and mission. Typically, this is an interactive process carried out over an extended period that allows families to digest and reflect upon their interactions. Often, responses to these questions will reflect family harmony principles such as: • “Build upon the love and respect we have for each other” • “Celebrate our values in a way that ensures future generations will lead healthy, happy, and productive lives” • “Use our resources for the benefit of our families but also for those in need” Similarly, financial security principles will also be front and center: • “Ensure the financial security of future generations while promoting purposeful, mission-focused lives” • “Grow and expand our businesses to meet our obligations to our family, employees, and communities” • “Maintain our position as a global innovator and business leader” Finding common ground