Self-assessment Test

1. Are there formal or informal conflict resolution mechanisms that take into account the family dimension of the enterprise (i.e. someone responsible for “respectful workplace”; a recourse system; etc.). Are there documented procedures to address possible conflicts between family members?

2. Do you have in place any particular management mechanisms / models that take into account the “family dimension” of your enterprise?

3. Does your enterprise already have in place mechanisms for the generational transition within the family?

4. Has top management considered the option of “diluting” the family ownership of the enterprise, i.e. by allowing external investors; developing joint-ventures with other companies; recruiting external board members and/or advisers; etc.

5. Does your enterprise have non-family members in executive / managerial positions, or in any case in operational decision-making positions?

6. Are non-family representatives involved in the definition of the enterprise’s vision and growth strategy? Also, at mere consultation level

7. We have procedures and mechanisms that ensure transparency in the recruiting and hiring processes, which are not influenced by family-related considerations

8. Are family-related challenges and risks taken into account when defining the enterprise’s strategy, vision and operations?

9. Is there a long-term strategy for business continuity irrespective of the family situation?

10. In the context of your enterprise, do you think that family values contribute to an overall culture of innovation, growth and entrepreneurship, also for non family members.

11. Are there mechanisms to distinguish between the enterprise’s and family’s wealth/finances/accounts/estate? Are financial management practices suitable to safeguard both family and enterprise?

12. Do you have any training initiative / programme / course targeted at the next generation to promote business continuity and growth, for instance financial management, leadership, management, digitalization, etc?

13. Is training provided to staff members (non-family members) on various business functions and topics?

14. Do family members in managerial position mentor and coach staff members irrespective of their family affiliation?

15. Are there mechanisms to monitor and assess the performance of family members active in business roles within the enterprise, to potentially revise their role within the company?