Family Business Initiative

Assisting and Developing Innovative Family Firms in South Florida

If you lead a family firm and are seeking help with strategy, growth, conflict, HRM, innovation or finance, please click here. 

Who we are:

The Family Business Initiative of the Adams Center for Entrepreneurship at Florida Atlantic University’s College of Business is dedicated to helping family firms become sustainable, entrepreneurial and innovative. We connect two important economic development players in South Florida: Family firms and new ventures. The initiative advises, assists and develops innovative practices among family firms in South Florida. Our mission is to offer best-practices advice to family firms in South Florida, to prepare FAU students to work in and for family firms and entrepreneurial companies, to conduct research concerning the science of the family firm, and to coordinate several related efforts in the College of Business and across the university.

Emphasis Areas:

1.      Governance

1. Establishing effective organizational forms, advisory boards/board of directors.
2. Leader exit style and effective succession strategies.
3. Family and family firm conflict and cooperation.

 2.      Strategy

1. Managing growth / changing organizational structure. 
2. Facing the challenge of external competitors with significant resources.
3. Establishing innovation and change as key values and practices in the firm.

 3.      Operations

1. Dealing with family member misbehavior in the firm.
2. Balancing current operations with development and delivery of innovative products. 
3. Valuing and leading non-family employees.   

 4.      Finance

1. Modernizing and streamlining accounting and finance within the firm as it grows.
2. Estate planning /wealth management/tax planning.
3. Tradeoffs between sales, profits, stewardship and socioemotional wealth of the family and the firm.

Programming:

1. Expertise: We provide advice from a trained family business advisor on governance, succession planning, strategic planning, family dynamics, problem employees, conflict resolution, change management, culture, innovation, human resource management and other issues faced by family firm owners and managers.
2. Networking: We plan to host regular gatherings at which family firm owners, managers and employees can meet to discuss common problems.
3. Speakers: Expert speakers will be enlisted to discuss key issues facing family firms in areas such as governance, strategic planning, innovation, family dynamics, sales and marketing, valuation, financial, tax and estate planning.
4. Workshops: Extended half-day workshops on current issues facing family firms may be offered regularly to provide additional depth on topics of interest to family business owners and managers.     
    

STAFF CONTACTS

If you are interested in sharing your expertise in family business and/or facilitating or conducting a workshop, please contact us at adamscenter@fau.edu.