When Governance Grows Beyond a Family Business: Defining the Enterprise Governance Process

Enterprise families are unique because they share ownership and stewardship of more than just family businesses. In addition to co-owning operating companies, they are the guardians of family legacy, family trusts, shared philanthropy, and joint properties. As leadership moves from founders to siblings to cousins and family priorities change, the decision-making structures must evolve to stay relevant. The journey from one family business to many areas of shared ownership and stewardship requires different thinking and a different form of governance—one that encompasses the “sum of the parts” with an enterprise mindset.