Center for Global Best Practices

You are a startup success. Fine! But if you want to achieve your bigger ambitions and sustain the continued growth of your family business, you need to professionalize it the RIGHT way. According to Dr. Eric Flamholtz, author of the book on family businesses, Growing Pains, businesses go through stages of development: new venture, expansion and growth stage, then comes professionalization. The new venture and expansion stages constitute the entrepreneurial phase of an organizational development. It is during this phase that the need to make the transition from entrepreneurship to a professionally-managed, entrepreneurially-oriented organization begins to occur. Those family businesses who were able to transition successfully experience a more rewarding and fulfilling journey in growing their businesses. However, to most families, this becomes a challenge. To address the clamor of founders, family members of second, third, and fourth generation, business owners, entrepren...

The fear of many grandparents, parents and families who worked so hard for their wealth is for it to end up in the hands of bad relatives and outside predators in case of their incapacity or death.  When you want to spare your loved ones of the burden of dividing and even quarreling over the estate, or the pain of having to pay for the unnecessary legal costs and taxes, one should write a will or create a living trust. It is the right thing to do.  When you don’t have one, you run the risk of your assets going to waste. To help families with this, the Center for Global Best Practices will host a one-day program entitled, “ Families’ Guide to Wills, Trusts & Inheritance: Will-Writing, Trust-Making and Inheritance-Giving the RIGHT Way ” to be held on Friday, November 23, 2018 at the Manila Marriott Hotel, Pasay City, Philippines. Leave a long-lasting legacy. This program will provide you a practical guide to will-writing and creating living trusts. With these docu...

You are a startup success.  Fine!  But if you want to achieve your big ambitions and sustain the continued growth of your family business, you need to professionalize it the RIGHT way.  Businesses go through stages of development from new venture, expansion and growth stage, then comes professionalization.  This is according to Dr. Eric Flamholtz of the highly acclaimed book, “Growing Pains”. The new venture and expansion stages constitute the entrepreneurial phase of organizational development.  It is during these two stages of growth that the classic skills of entrepreneurship are most relevant.  It is also during this phase that the need to make the transition from entrepreneurship to an entrepreneurially oriented, professionally-managed organization begins to occur.  Those family businesses who are able to transition successfully experience a more rewarding and fulfilling journey in growing their businesses.  How to professionalize is the...