by admin on June 27, 2009
The New York Times published an article on June 23 by Bill Vlasic titled “Family Loyalty Anchors Ford in Risky Times”. The article discussed some of the challenging times that the Ford family business has faced, along with other auto makers, especially in recent years and months. Last time I wrote about the regular family meetings that help the Ford family manage conflict.
The second point the article made about the Ford family’s success in managing conflict involves how the family deals with disagreements. Any organization will face disagreements if it is growing and evolving. The key to success often turns on just how the organization deals with these inevitable frictions.
In 2007, a few Ford family members tried to hire a Wall Street firm “to advise them on long-term strategy — including possible mergers or even a sale.” Other family members opposed the idea. The family voted down the proposal. It’s the next step that is essential: “unwavering support once decisions are made.” By not trying to undermine a decision that has been made, but instead rallying around it, a family acts to help itself and its business.
by admin on June 27, 2009
The New York Times published an article on June 23 by Bill Vlasic titled “Family Loyalty Anchors Ford in Risky Times”. The article discussed some of the challenging times that the Ford family business has faced, along with other auto makers, especially in recent years and months. As the piece noted, tough times have “led to splits in other famous business families like the Bancrofts who owned Dow Jones until they sold it to the News Corporation of Rupert Murdoch.” (Type “Bancrofts” into the search bar to find earlier comments about that situation.)
Two points are noted in the article which help preserve the Ford family and its family business.
First, the family has been meeting every three months, in good times and bad, for the last twenty years. The quarterly meetings now include up to 35 family members. By maintaining a schedule of regular and frequent family meetings, the family has created a forum for discussions that both ensures that family members have a steady working relationship and allows challenges to be faced before they escalate even further.
A few words about the second point next time.
by admin on June 27, 2009
I’m pleased to announce that Dovetail Resolutions, LLC has received certification as a Small/Minority Business Enterprise from the State of Connecticut Department of Administrative Services (DAS) Supplier Diversity Program. The state certification is effective from June 25, 2009 through June 25, 2011. According to the Connecticut DAS website: “The State’s Supplier Diversity program targets that at least 25% of the state’s business is transacted with small businesses including those owned by minorities, women and the disabled.”
by admin on June 23, 2009
On June 1,2009, Annie’s Mailbox, a nationally-syndicated advice column, published my letter about using a mediator to help with a family fight brewing over heirlooms. These kinds of conflicts are common, whether the heirlooms have great monetary value or only sentimental value. Read the original letter and response, describing the estate settlement conflict. Then read my letter, explaining how estate mediation can help.