News Briefs
March 1998
Communications - A Key to Family Business Success
I have heard it said that more family businesses fail
due to poor communications than for any other reason. As with most problems,
these can be resolved with willing hearts and improved knowledge and skills.
And, if your family has relatively good communications, you undoubtedly
will learn ways to improve your skills.
On April 29, Gerald Le Van and David Lange will lead
us in a seminar entitled Applying Basic Communications to Families in Business.
Le Van and Lange will focus on the basics of communications, identify problems
that are often common to families in business and, most importantly, ways
to improve communications for the health of the family and the business.
The seminar will incorporate case study and small group interaction to
ensure that everyone has an opportunity to apply, question and assimilate
the contents of this seminar.
There will be something for everyone at Applying
Basic Communications to Families in Business, April 29, 1998, 7 a.m. -
3 p.m. at the Oshkosh Hilton and Convention Center. We encourage nonmembers
to join us. The nonmember fee is $100 per person. For further information,
contact Eleanor Forseth, (800) 232-8939.
New Partner
Welcome to Marion Body Works, Inc. of Marion,
Wisconsin. Five members of the Marion Body Works family joined us for their
first meeting as members on February 18 to hear the Badger Mining presentation.
We were pleased to meet Bud, Betty and Jim Simpson and Curt and Nancy Ignacio.
Another member of the family, Lynne was unable to join us at that meeting.
Please take an opportunity to welcome them and get acquainted.
Advisory Boards,
Boards of Directors and Accountability
Steve Westra, Chair/CEO of Westra Construction, Inc.,
Waupun, is well-known in the construction industry for his leadership and
love of teaching, according to Ben Ganther. We are pleased that Mr. Westra
has accepted our invitation to lead us in the consideration of advisory
boards, boards of directors and accountability at our March 17 program
to be held at Reeve Memorial Union, UW Oshkosh.
Including nonfamily members and "outsiders" in business
discussions and planning is often avoided in family businesses. So how
do family businesses acquire broader perspectives, new expertise, objective
criticism and needed assistance? Are there ways to effectively gain needed
guidance without letting outsiders in?
Well, depending on the maturity of the family business,
its needs and its objectives, there may be a variety of answers. Be sure
to join us on March 17 to hear Steve Westra talk about the key issues related
to family business boards and accountability and about some of his experiences
with boards.
Structure and Governance
Badger Mining Corporation's Vicky Wuest and Tony Chier
led the presentation, Family Business Structure and Governance: A New
Model. They provided us unique insights into a family business that
in its third generation is driven to quality by its belief in, and commitment
to, teams. Their structure, according to Lori Phillippi a member of the
Hess side of the family, was a response to financial needs and to their
desire to take the company back to its roots.
True to their team spirit, Vicky, Tony and Lori were
joined by other members of the management team: Tom Stark, Mike Chier and
Tim Wuest. With these Badger representatives, we had excellent resources
for pursuing issues in more detail during the question and answer period
and during small group discussions.
Members indicated that this program gave them a new
perspective on the value of teams and on the effort and time that goes
into the evolution of a company from a traditional management structure
to a team structure. In the "what did you like best category," we heard...
-
good discussion on family issues;
-
the concept of a flat organization based on teams;
-
the amount of detailed information on their new teamwork approach;
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information on passing on to the next generation;
-
watching them operate as a team throughout the presentation; and
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open comments from the audience and roundtable breakout groups at the end.
Forum Directory
The first edition of the Forum's partnership directory
will be distributed at the March program. Each partner will receive one
copy of the directory. The contents are designed to concisely provide you
background information about each partner organization, its family and
nonfamily managers, and contact information.
The desire to network effectively with Forum partners
prompted one of our partners to recommend that this directory be created.
We are pleased to provide it and hope it will be a useful resource for
you.
The looseleaf design of the directories will allow
us to easily update the information as we add partners and as your information
needs modification. Please be sure to let Eleanor know of changes.
Library Resource
A Matter of Time, the first family business interactive
movie, is a CD experience. Through the use of this media, Mass Mutual has
provided an educational, entertaining and practical resource for family
business owners. Through the experiences of a fictitious family, you can
work through decisions, test your responses against those of family business
consultants and learn techniques and skills "that could change the future
of your company forever."
This and other Forum resources are listed on the
resource listing you recently received. Be sure to contact us when you
would like to use this or any of the Forum resources. Also, let us know
what you would like us to add to the library. To locate information on
a family business topic or to use a Forum resource, contact Sue Schierstedt.
Consultancy Directory
At the suggestion of one of our partners, we are compiling
a consultancy directory based upon your experiences with family business
consultants and professionals. Watch for the request for information in
your mail.
Great News! Reduced Fees!
Effective July 1, 1998, the annual family business membership
fee will be less and will depend on your annual sales. For more details,
contact Sue Schierstedt.
Member Recruiting
Between now and July ,1 we want to double our membership.
You can help us by telling other family business owners about the Forum
and by inviting them to join.
Upcoming Events
| Date/Time |
Event/Topic |
Presenter |
| Mar. 17, '98
7-10 a.m. |
Advisory Boards, Boards of Directors & Accountability |
Steve Westra,
Westra Construction |
| Apr. 29, '98
7 am-3 pm |
Applying Basic Commmnicat- ions to Families in Business |
Gerald Le Van & David Lange |
| May '98
5:30-9 p.m. |
Creating a Legacy or a Tragedy? |
|
| Nov. 5, '98
7 am-3 pm |
Marketing Your Family Business |
Pat Frishkoff, Director, Austin Family Business Program, Oregon
State Univ. |
| Mar, 18, '99 |
Strategic Planning |
John Ward Loyola Univ., Chicago |
|
|
|
Vol. 1 No. 5 News Briefs
Copyright 1998 Wisconsin Family Business Forum
Editor: Susan Schierstedt
(920) 424-2257; 1-800-232-8939
E-mail: schierss@uwosh.edu
Last updated: April 9, 1998