Upcoming Conference on Family Business

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Upcoming Conference on Family Business

The purpose of the Conference is to present examples of good practices for the transfer of management and ownership. There will be two representatives of German corporations Underberg AG and Werhahn KG (Stephan Werhahn, our GIoD Board Member) coming to Slovenia, who will present their path – the growth and development of the family business. From their experience, they will present their domestic practice of transferring management and ownership, the importance of values for successful management and business, and the challenges of growth and expansion to foreign markets. They will also present the principle of sustainable entrepreneurship and how they see family entrepreneurship in the future.

Testimonial from Rhys Marc Photis

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Testimonial from Rhys Marc Photis, MIoD

Over the years we have been engaged on various levels with the German Institute of Directors. As a member of the IoD UK I have great insight into the work Eckart Reinke and his team are carrying out. They focus on purpose, values, relationships and long term sustainability. This isn’t an easy path; it takes conviction from business leaders to withstand significant short-term pressures, but it will ultimately lead to greater success and overall wellbeing. The German IoD provides guidance across the areas of leadership, governance and stewardship. We can highly recommend exploring opportunities with this resourceful organisation.

 

Making Corporate Boards More Effective

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Since we have joined so many board seminars, we like to give a recommendation.

The Harvard Business School is offering again its “Making Corporate Boards More Effecitve” program. It is one of the best programs we have ever attended. The next course is starting on the HBS Campus at 26th of July and will cost $9,250. The program fee covers tuition, books, case materials, accommodations, and most meals.

Practical advice regarding the German corporate governance system

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Professor Bernd Schichold is one of the leading figures in all questions regarding the German supervisory board affairs. Regularly he is writing in his blog about the newest developments. One of the most important developments is the DIN SPEC 33456, since non German speaking supervisory board members often need a reference point and practical advice with regard to the German corporate governance system.

Below you can find an abstract of the DIN SPEC 33456 „Business Process Guidelines for Supervisory Boards and Independent Directors“, which might be helpful:

„The DIN SPEC includes guidelines for organizational processes and business processes in oversight bodies such as supervisory boards, advisory boards and boards of directors. The guidelines are set to impose a reference model and a process map of the supervisory board for routines that occur regularly as part of the monitoring work. Potential users and target groups of these guidelines are advisory boards of various companies, especially medium-sized companies, family businesses, foundations and public companies. The reference model provides sufficient degrees of freedom and thereby flexibility of an enterprise customization. The DIN SPEC primarily is supposed to provide a business perspective of the regular running routine work of supervisory bodies.“

If you need more information, please get in touch with Bernd Schichold (one of the idea generators and authors of this practical guideline for supervisory boards) directly – or send us an email.

The challenge of the Borads to stand up against Trump

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The CEO’s and Board members of the leading companies of the US and the world do have a new challenge: how to deal with Trump who may be destroying your long-term company future. Going for the short-term win and submissively obey the presidents will? Or going for the long-term win and offer resistance?

In an interview with Harvard Business Review, former U.S. treasury secretary Larry Summers said: “If CEOs who employ hundreds of thousands of people are not in a position to speak truth to power, who is going to be in a position to speak truth to power?”

Harvard Professor Bill George recommends a strategy:

  1. Prepare for the jobs of the future.
  2. Stay focused on realizing your mission despite the uncertainty.
  3. Build on your strengths.
  4. Adapt your tactics, not your strategy.
  5. Don’t abandon globalization

For more details and to read his valuable guideline have a look at his LinkedIn post.