A successful model of family leadership provides stability and continuity in the midst of a changing world. This FOX 2010 Fall Forum presentation identifes the skills required of a good leader and how these skills will need to change in the 21st century.
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Far too often, family legacy is regarded as a concept related only to the past. This backward-looking, and inherently passive view of legacy fails to capture a much more valuable and dynamic understanding – that the essence of family legacy also carries with it the opportunity to shape the future of the family for the better. In this Fall Forum presentation, James Houghton demonstrated how his family has used puposeful planning to preserve its legacy.
An appreciation for family legacy begins with an understanding that legacy encompasses more than the past and embraces all that a family wants to preserve for the future – the history, values, knowledge and experiences that are just as essential as the financial capital.
As multiple generations begin to work together, differences can and do arise, and identifying the goals and values that resonate across the family and motivate individuals to work together is a critical task in sustaining wealth. While many families take steps to document their chief business or financial objectives, they fall short of clarifying their true motivational values – those that embody the very core of their family’s belief system and character.
This presentation was given at the 2010 FOX Global Family Forum.Part I: Family Legacy and Legacy Planning Mark Daniell, Cuscaden Group An appreciation for family legacy begins with an understanding that legacy encompasses the history, values, knowledge and experiences that are just as essential as the financial capital. Legacy planning is the process that involves documenting reasons for staying together, agreeing on The Family Promise and investing in the education of family members to enhance the legacy.
Understanding the family history can help to create a family legacy, establish sound strategy to keep future generations interested in a family business and develop philanthropic missions for these future generations.
Families that remain strong and unified across generations share many elements of success, including how they intentionally teach and transmit those elements to succeeding generations. A paper from The Heritage Institute examines each of these elements and describes how they can be structured, adapted and applied to meet the unique circumstances of any family.
A paper from The Madison Group says the ability of family members to meet, discuss and make decisions about issues is a critical component of long-term harmony in the family. Discussion begins with the individual members learning the skills to "show up" in a positive way and is carried through in a process that can be trusted and honored.
From 2008 to 2009, the Center for Creative Leadership surveyed 128 senior executives who participated in CCL's Leadership at the Peak program. The executives served at teh senior most levels of their organizations, with more than 15 years of management experience and resonsibility for at least 500 people. This survey focuses on pressing trends and challenges affecting their organizations, and the role of leadership in spanning vertical, horizontal, stakeholder, demographic, and geographic boundaries.
Coaching can be a transformational process, helping individuals overcome obstacles, solve problems, make significant changes and accomplish lofty goals. Conscious Connection provides an overview of coaching, discussing the work of a professional coach and offering tips to ensure selection of the right coach.