Managing the Family Business to Last Beyond the Founders

Overview

Family businesses are crucial to the economy, wealth creation, and employment in emerging economies. Despite this, the survival rate of family businesses beyond the founding generation is alarmingly low, with less than 30% of family businesses surviving the second generation and less than 10% surviving to the third generation in Africa. To address these issues, the Lagos Business School (LBS) family business seminar – Managing the Family Business to Last Beyond the Founders: The Building Blocks, equips families in business with the knowledge, planning, and leadership skills necessary for a shared and sustainable future. This seminar covers six modules, including understanding the uniqueness or dynamics of family businesses, institutionalising the family enterprise, governance in the family and the business, succession planning and implementation, and how to sustain the family legacy. The seminar is open to family business owners, spouses and children of the owners, managers, board members, professional advisors etc. This programme is delivered online over three weeks and is facilitated by experienced faculty members and industry leaders.

Learning Objectives and Benefits

After the programme, you will be able to:

Articulate the family business model and how to leverage the unique strengths of family businesses to achieve superior performances and healthy family relationships
Develop the key elements of institution building, governance/strategy and the need/steps to professionalize the management and board of the business for efficiency and sustainability
Differentiate between the roles and responsibilities of management, boards & the family institutions (family assembly, family councils etc)
Evaluate the key elements of Transgenerational succession and how to develop concrete action plan for successful transition
Articulate the key decisions and action steps required to sustain the family wealth and legacy

Who should attend

The programme is designed to benefit the following leaders:

Owner managers
Spouses and offsprings of founders of family businesses
Top management of family businesses
Financiers/suppliers of family businesses
Professional advisors of family businesses (including consultants, accountants, lawyers, public relation practitioners etc.

Structure and Curriculum

Module 1: Laying the Strong Foundations For Success
Module 2: Governance Imperatives in Family Businesses: Transforming the family business into sustainable institutions.
Module 3: Family Business & Succession Planning – Key Imperatives.
Module 4: Sustaining and Growing the Family Wealth.

Admission process

1. Click on the Apply Now tab
2. Select the number of participants to enroll on the programme
3. Fill in your details to complete your application
4. Request for an invoice or make an instant payment via our secured payment gateway
5. Upon confirmation of payment, a programme manager will get in touch with you at least three days before the programme commences.