FOX Family Enterprise Workshop - November 16-17, 2020

The FOX Enterprise Family Workshop offers a thoughtful approach to organizing the complex dimensions of your Enterprise Family. If you are facing complexity created by multiple generations, multiple businesses, joint properties, investment portfolios, and family foundations, you may need a master plan to oversee and manage all the various elements of shared ownership. Defining goals and strategies for organizing these entities and creating a workable governance structure is the purpose for this workshop.

There are many complexities that come with being an Enterprise Family. What starts out as a family business gradually evolves into multiple businesses, major real estate holdings, multi-generational ownership structures, and investment portfolios along with philanthropy and community impact. Successful families need a thoughtful way to plan for, organize, and oversee these complex family activities, all of which are a part of the Enterprise Family.

WHAT TO EXPECT

  • Define strategies for alignment and build a clear vision for the future of the enterprise
  • Create a roadmap for integrating goals across the family, the businesses, the foundation, and the family office
  • Identify tools to organize enterprise goals and allocate family capital
  • Gain insight on possible governance structures to support the goals defined
  • Understand an integrated approach to leadership, talent, and succession transitions
  • Explore methods to engage family members in supporting the enterprise master plan

WHO SHOULD ATTEND

Ideal for family members, family office executives, and family board members who are seeking to establish a longterm vision for the many dimensions of the Enterprise owned by the family.

 

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  • Agenda
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Module 1: Introduction to Enterprise Thinking

Families with an enterprise mindset recognize the complexity of all that they own together and understand the importance of managing its business, financial, human, and social capital in a thoughtful and intentional way for the good of all owners. In this session, FOX will show you how to develop a Enterprise Family Framework that supports the vision. This process will help you organize your thinking and your resources to build a framework for the future.

Content to be Covered:

• Develop a clear profile of the enterprise
• Understand how the enterprise supports the vision
• Recognize family opportunities and risks
• Set enterprise guiding principles
• Design essential structures to support the enterprise
• Case studies about Enterprise Families

 

Module 2: Family Alignment and Engagement

What makes your family unique? Where is the energy in the family? What are the synergies in working together? All of these questions are important to consider as you contemplate the challenges and benefits for the long-term. Sharing ownership means sharing control, and sharing control means sharing risk. Having frank conversations about the benefits of staying together, and the work involved in doing so, is critical to securing the collective family’s commitment to the Enterprise Family and a future together. It helps to begin with an understanding of the past as a prologue to the future.

Content to be Covered:

• Discuss family views on togetherness
• Analyze the family’s prior history
• Understand values and guiding principles
• Identify patterns and polarities that define families
• Analyze timeline and trigger events

 

Module 3: Family Vision for the Future

“Every generation is a first generation.” With each transition of leadership, it is important to review the purpose of the enterprise and the vision for where you are going together. Understanding the world’s driving forces and mapping the family’s collective views on risks and opportunities are ways to engage the family in productive dialogue about the future. Scenario planning provides a safe means for considering alternate paths for the future and gaining consensus around the best way forward. Crafting the desired future vision from many possible future scenarios will give the family confidence and clarity about their future direction. 

Content to be Covered:

• Identify driving forces and key uncertainties
• Address disruptions that will impact the future vision
• Develop future scenarios to explore alternatives
• Create a shared vision for the future of the enterprise
• Define key strategies and actions to implement vision

 

Module 4: Enterprise Opportunities and Risks

Once you identify the long-term vision for the enterprise, it’s important to assess the opportunities and risks that may impact the family’s ability to reach its vision. Prior to the workshop, participants will complete a FOX Risk and Opportunity Assessment on our website, and will use these results to inform the group discussion. Higher risk areas will be identified by the assessment process and addressed.

Content to be Covered:

• Review a FOX member case study
• Understand building blocks for a sustainable enterprise
• Identify high impact opportunities available to the family
• Analyze your risk profile using the FOX Risk and Opportunity Assessment tool.
• Discuss the value of a formal Risk Committee

 

Module 5: Enterprise Goals and Metrics

Just as you engage in strategic planning for the family business, so must you engage in intentional planning for the enterprise. Developing an enterprise strategy means considering the goals for the business, the goals for family unity and engagement, and the family’s commitments to community and philanthropy. Looking at the financial assets in an integrated manner with the input of the family, the family office (if one exists), and the trusted advisor team is an important part of the process. The family must articulate the enterprise goals in a substantive manner, and work together to define how success will be measured.

Content to be Covered:

• Consolidate family goals into an enterprise view
• Develop integrated strategies that matters to owners
• Identify a methodology for allocating capital
• Develop performance metrics to monitor progress
• Conduct periodic scenario planning to revisit and refine the enterprise strategy

 

Module 6: Enterprise Governance

Effective governance involves the development of a system (principles, policies, practices) that fosters trust, balances power, and helps family members work together to further their collective goals in a productive manner. Each layer of governance (e.g., Family Assembly, Enterprise Family Board, Family Committees) has unique roles, responsibilities and criteria for involvement. Good governance provides a means to navigate the inevitable transitions every Enterprise Family encounters.

Content to be Covered:

• Understand the benefits of a formal governance system
• Develop a decision-making process that is trusted
• Design governance structures to grow with the family
• Develop clear levels of authority and accountability for boards
• Identify a leadership selection process using objective advisors

 

Module 7: Family Learning and Leadership Development

Most families want their wealth to be a source of satisfaction for their children and grandchildren. Developing a culture of learning and investing in a systematic approach to delivering age-appropriate financial education and leadership training is the best way to prepare family members to be responsible owners of wealth and life-long contributors to the Enterprise Family.

Content to be Covered:

• Defining learning priorities for each generation
• Understand leadership skills and interests
• Develop an owner education program for all ages
• Identify family leadership roles and responsibilities
• Ensuring a smooth transition

Presenters

​Ann Dugan  
Senior Managing Director, Advisory and Education Services, Family Office Exchange

Ann Dugan is the Senior Managing Director of Advisory and Education Services leading the FOX team in the delivery of services to substantial family enterprises and family offices striving to achieve long-term sustainability and multi-generational success.  ​

Ms. Dugan was an early innovator in understanding the power of knowledge, research, and entrepreneurship in building the enterprising family capacity and sustainability as she launched one of the first Global Institutes at the University of Pittsburgh. As founder and leader for nearly 30 years of the Institute for Entrepreneurial Excellence while also serving as the Assistant Dean for the Joseph M. Katz Graduate School of Business, her success in helping other families, universities, and regions flourish has been recognized with numerous awards. Ann led her own successful succession in 2014. Post University, Ann focused her work on assisting families to start philanthropic organizations and foundations and served as Executive in Residence for the Family Business Network (FBN) until joining the FOX leadership team in 2016. ​

Ann holds a B.S. in Economics and M.B.A. in Finance from the University of Pittsburgh. Ann is a fourth-generation member of a business-owning family and is a serial entrepreneur who has founded and led several ventures to success. Ms. Dugan currently serves on several public and private boards of directors. 
 

Miguel López de Silanes Gómez
Managing Director, Market Leader for Europe and Latin America, Family Office Exchange

Miguel López de Silanes Gómez is the Market Leader for Europe and Latin America at Family Office Exchange (FOX). He is responsible for delivering FOX services to current members, and actively works to expand the network in Europe and Latin America. Miguel has most recently been director of the family office for one of Europe’s leading real estate families, with specific responsibility for designing and implementing the family’s investment strategy and for providing owner education to the younger family members. Previously, he worked at UBS Wealth Management in New York, Chile, and other locations in Latin America. He began his career at Bain & Company as an Associate Consultant in London and Madrid. He has an M.B.A. from Harvard Business School and a B.A. in Economics from Universidad Pontificia Comillas (ICADE) in Madrid.
 

Sara Hamilton
Founder and Chief Executive Officer, Family Office Exchange

Founder and CEO, Family Office Exchange Sara Hamilton is the Founder and CEO of Family Office Exchange (FOX). Sara is a recognized visionary and credited with professionalizing the family office industry. Sara founded FOX in 1989 as a peer network for family office executives. Within 10 years, FOX could see that families needed help with their enterprise vision, managing financial transitions, and educating family members on responsible ownership. Today, Sara provides strategic direction for FOX and leads the development of new programs and services supporting Enterprise Families, family office executives, and wealth advisory firms in more than 20 countries. FOX has built a unique team of professionals serving multigenerational families, led by 15 technical experts who are supported by a dedicated team of 30 additional employees based in Chicago, New York, and Madrid.

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