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.
Co-founder and principal of The Family Business Consulting Group, Inc., Craig Aronoff is a leading consultant, speaker, writer, and educator in the family business field. Aronoff grew up in a family business. He received his bachelor's degree from Northwestern University, his Masters from the University of Pennsylvania, and his Doctorate from the University of Texas at Austin. The parents of three grown children, grandparents of three grandchildren, Craig and his wife Jane live in Marietta, Georgia.