《多维教程熟谙》Unit2.docx

1、多维教程熟谙Unit2Text 2: Family Busin ess: the Next Gen erati onDavid Zaudtke Doug AmmermaIn troduct ions: In Chin ese, there is a say ing that it is by no means easy for a cla n to rema in its prosperity over three gen erati on s. It is not com mon for a cla n to rema in a very humble situati on over thr

2、ee gen erati ons either As success of a family bus in ess seems to be checked by many factors. In differe nt gen erati ons, all the backgro und lead ing to success or failure would cha nge.In terms of the successi on to a family bus in ess, success is decided by many factors. The authors of this tex

3、t have poin ted out four factors. Do you agree with the authors? )1.America is in the midst of one of the greatest wealth transfers in the history of mankind. Over the next 20 years, an estimated $15trillio n in assets will be tran sferred from one gen erati on to the n ext.2.Much of this wealth tra

4、n sfer will be in the form of family-ow ned bus in esses. But the viability of many of these tran sfers is questi on able . The fact is, most will fail. Typically, only one out of three bus in esses is successfully tran sferred to the sec ond gen erati on. Survival of a family bus in ess into the th

5、ird gen erati on is a rare occurrenee .3.Thousa nds of family bus in esses, some of the household n ames, will disappear over the n ext decade. The sad part is that many of them could survive with proper planning. For many, however, it may already be too late. The proper time to start pla nning the

6、successi on of a family bus in ess is not one, not three, not eve n five years ahead. In deed, a comprehe nsive successi on pla n, which in cludes sophisticated estate pla nning strategies, gen erally requires at least a 10-year horiz on to be properly structured.4.Whether large or small, high-tech

7、or low, public or private , every family-ow ned bus in ess is differe nt. But regardless of how diverse they are, four key eleme nts must be in place before a bus in ess can be successfully passed from one gen erati on to ano ther.5.Plan Your Successi on Man ageme ntOwners / founders are extremely d

8、riven and dynamic . Often they excel at more than one skill .In many cases, product ion experts are also market ing geni uses or skilled finan ciers. Replaci ng them may require more tha n one pers on. Therefore, family bus in ess owners should determ ine exactly how the bus in ess functions by crea

9、ti ng orga ni zati onal charts . Each key member of the successi on process should create his or her own chart. These charts should the n be compared. The differe nces will point to gaps in the man ageme nt structure and highlight areas of misunderstanding and differences in perception .6.Take Judy,

10、 for instanee. Judy owns a software company and has three children -a computer whiz , a racecar drive and one with a bus in ess degree but no in terest in the compa ny. In additi on, Judy has a strong man ageme nt team in place. In her case, she should con sider givi ng own ership to childre n, but

11、con ti nuing to have the man ageme nt team run the bus in ess.Finding people from with in the family, or from outside, to fill those spots may not be easy, nor happe n overnight . Therefore, it is vital to develop an action plan and timetable early in the process in order to allow for an orderly tra

12、nsition of responsibilities.8.Few bus in esses, even family bus in esses, grow without the help of loyal employees. More ofte n tha n not , they hold key positi ons in man ageme nt. Therefore, you must keep your employees in formed about Iong-range succession plans. Key managers must have a clear pi

13、cture of where they stand and what their resp on sibilities will be in a successi on-man ageme nt structure. Develop a compe nsati on and ben efit structure that is sufficient to attract and retain key managers as well as to motivate them to perform in the best in terests of the bus in ess and the f

14、amily.9.There is also the matter of timing . The children you hope will take over may be too young or inexperieneed when you retired. In such cases, transitional management teams may be formed to provide interim man ageme nt un til the childre n are properly trained and seas oned to be in a positi o

15、n to man age the bus in ess successfully.10.Define Family Employme nt PracticesEstablish a clear employment policy for family members and stick to it. Most parents believe their children should be treated equally. Compa ny executives, however, must be selected on ability . Select ion should be made

16、on the n eeds of the bus in ess rather tha n on the n eeds of the childre n.11.For example, Jim owns an electric company. He treats his three children equally-all three work for the company and receive the same salary. All three, however, do not work equal hours, nor are they all dedicated to the bu

17、s in ess. In stead of ben efiti ng from the equality, there is discord and rese ntme nt in the compa ny because only one child really works.12.Parents can pass on their legacy to their children without necessarily giving them control of a company. When the childre n are not suited to take over the b

18、us in ess-about 30 perce nt of the time-other methods canbe found for them to share in the family wealth.13.However, if you do determ ine that a child will carry on the bus in ess, you should be sure your choice is capable. En sure that he or she will receive the right educati on and bus in ess expe

19、rie nee.14.Outside job experie nee is extremely useful for childre n who will one day assume con trol. Worki ng outside the family bus in ess can give them valuable experie nee, expose them to differi ng man ageme nt styles and give them the con fide nee to know that their successes are their own. O

20、fte n they will receive better men tori ng and more opport un ities to take resp on sibility tha n they would in the family bus in ess. Provi ng themselves outside the family bus in ess also gives childre n greater credibility with employees whe n they do even tually take con trol of the family bus

21、in ess.15.For those families that in sist their childre n beg in their careers at the family bus in ess, childre n should start at the level that their education and experienee justify-even if it means sweeping floors, operating a machine on the factory floor, etc. The experie nee will be in valuabl

22、e . In additi on, worki ng their way up from the bottom will in crease their respect among employees and man ageme nt. I n our experie nee, childre n who develop in this manner are twice as likely to succeed tha n childre n who assume unearned executive positi ons.16.Establish and Main tai n Family

23、HarmonyRivalries and jealousies can be extremely time-consuming, not to mention destructive. Once children have grown, married and have children of their own, they are considered a separate family with different -and sometimes con flict in g-ideas. If the bus in ess is large eno ugh, con sider seat

24、ing an outside board of directors to en sure that the in terest of the family and bus in ess are properly bala need.17.Develop a family bus in ess visio n doeume nt to make eerta in family members-as well as employees, suppliersand customers-un dersta nd the future of the eompa ny. Used family counc

25、il meet ings to com muni eate to allfamily members about the eompa ny and issues facing it now and in the future.18.Compa nies and families that com mun icate ofte n, hon estly and on a timely basis in crease their probability of survivi ng and prosperi ng.19.Plan Your EstatePoor estate pla nning ha

26、s led to the demise of more family bus in esses tha n any other cause. In many of these cases, the liquidity n eeds caused by estatetaxes due on the value of the family bus in ess are far greater tha n the bus in ess can absorb .20.In most cases, life in sura nee may be an effective way to cover est

27、ate taxes. However, the cost of life in sura nee for a bus in ess rein vesti ng most of its capital in grow ing the bus in ess usually makes the in sura neean impractical solution for the entire estate-tax dilemma . In most cases, there is a need to utilize other pla nning tech niq ues to mi ni mize

28、 estate-tax costs.21.That was the case for a grocery store owner who spe nt all of his capital on expa nding the bus in ess and not buying in sura nee. Un fortun ately, he died after completi on of the reno vati ons. There was nothing left to pay estate taxes, so the family had to sell the bus in es

29、s.22.With the help of your advisors, find ways to reduce or man age the tran sfer taxes. Aga in, it is importa nt to start the process as early as possible.23.These are the four must elements. However, underlying all of them is a willingness to make difficult decisi ons and do what is best for the b

30、us in ess and the family.24.Dealing with succession issues may cause you discomfort or even great pain. However, if not addressed early in the successi on process, these very same issues will come up later whe n it may be impossible to deal with them. Remember, your ultimate goal is the survival of

31、the company so that your children, employees and com munity continue to derive the ben efits your compa ny provides.25.The best way to assure the existe nee of the family bus in ess into future gen eratio ns is to deal with issues in acomprehe nsive manner well before the final successi on is to tak

32、e place. For the overwhel ming majority of family bus in esses, that mea ns now.Tran slate the followi ng paragraphs into Chin ese:1.Owners / founders are extremely driven and dynamic| Often they excel at more than one skill. In many cases, producti on experts are also marketi ng geni uses or skilled finan cie r$ Replac ing them may require more than one persc.ni Therefore, family business owners should determine exactly how the bus in ess functions by creati ng orga ni zati onal chartsi Each key member of the successi on process should create his or her own chart. The