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Developing policies to guide decision making can help the family business avoid serious problems. The authors provide a step-by-step process for engaging family members in developing policies which cover issues such as: dealing with conflicts of interest; retirement timing; distribution of profits; loan programs; compensation and succession.

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Introduction: A Wonderful Gift
What Policy Making Can Do for Your Family and Your Business
How to Develop Your Policies
What Policies Do You Need? and When?
Shareholder Agreements
Other Policies to Consider
One Policy, Two Ways
A Word About Implementation
Summary
APPENDICES
Appendix A: Family Business Policies to Consider
Appendix B: Sample Conflict-of-Interest and Self-Dealing PolicyAppendix C: Sample Philanthropy Policy
Index

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´Developing Family Business Policies: Your Guide to the Future is a must-read for any business owning family that is trying to sort through the challenges of family business continuity. It gave us information that helped us select and construct policies that fit our speicific family business needs.´ - Arthur R. Velasquez, President & CEO, Azteca Foods, Inc., Chicago, IL ´We are a family business that has grown and is maturing by learning and putting to use the principles in Family Business Policies: Your Guide to the Future.´ - Jack and Dolores Cakebread, Cakebread Cellars, Napa Valley/Rutherford, CA ´Family Business Policies: Your Guide to the Future gives families a clear road map for creating business policies. It raises all the right questions. I will recommend it to our family and professional advisory clients alike.´ - Judy Rudnick, Family Office Exchange, Oak Park, IL

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CRAIG E. ARONOFF Co-founder, Principal, and Chairman of the Board of The Family Business Consulting Group, Inc., the founder of the Cox Family Enterprise Center and current Professor Emeritus at Kennesaw State University, USA. He invented and implemented the membership-based, professional-service-provider sponsored Family Business Forum, which has served as a model of family business education for universities world-wide.

JOSEPH H. ASTRACHAN Principal in the Family Business Consulting Group, Inc., Wachovia Eminent Scholar Chair of Family Business, Professor of Learning and Professional Development, and Director of the Cox Family Enterprise Center at the Coles College of Business, Kennesaw State University, USA. In addition he is Distinguished Research Chair of Family Business at Loyola University Chicago´s Business School, USA.

JOHN L. WARD Co-founder of the Family Business Consulting Group Inc. He is Clinical Professor at the Kellogg School of Management, USA and teaches strategic management, business leadership and family enterprise continuity.

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