Rothman Institute Family Business Forum
The Rothman Institute Family Business Forum was established by the Rothman Institute of Entrepreneurial Studies in 1992 to support family businesses.The Forum is designed to provide family businesses in the metropolitan area with a unique opportunity to learn from leading experts about proven strategies for successfully owning and operating a family business through outcome oriented educational programs and seminars.
The Forum also provides members with the opportunity to exchange ideas and share experiences.Programs are designed to foster interaction and participation by addressing issues of specific concern. The members-only environment fosters long-term relationships based on mutual trust and understanding and an ongoing dialogue about family and business issues.
Why a Forum only for family firms?
Family businesses face unique challenges. In addition to all of the fundamental issues involved in operating a business, families in business must address a number of other important concerns, including:
- Developing visions for the family and business that are mutually compatible
- Selecting and preparing successors
- Planning for estate taxes and ownership transfer
- Developing fair and effective compensation strategies for family members as well as non-family employees
- Developing and implementing governance structures
- Fostering open and productive communication
- Creating productive roles for family members who are not active in the business
- Managing conflict within the family and business
- Attracting and retaining non-family managers and employees
What to Expect from a Forum Seminar
A typical Family Business Forum seminar consists of from 40 to 60 members – representing two or three generations - with family and non-family members - from various types and sizes of businesses. Representatives from sponsoring organizations are also present at seminars to offer their expertise when appropriate. Seminars vary in content and format. Some feature family business experts while others include panels of members and sponsors.
Member family-owned businesses range from insurance providers, manufactureres, commercial real estate and security firms with annual revenues from $1.5 million to $40 million
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