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| Family Companies |
Our firm specializes in offering an integral advice to the Family Companies, focused on the prevention and management of families, patrimonies and corporations.
We look up to the efficiency and rentability of the Family Companies, and prepare them to face any event that may arise in a family, corporate or patrimonial level, by promoting the development, consolidation and permanency of the company and family. In current times, this type of organization faces several problems such as: economical, administrative, legal and personal problems among others. This problems are accented by the many change processes (market, technology, administrative and familiar structures, etc), that obligate them to adjust their structures in order to remain alive.
In this area we stand out for being leaders on integral legal advice for Family Companies, both on national and international fields.
This area is leaded by attorneys Humberto Serna Gómez, Edgar Suárez Ortiz and the business administrator Diego Parra Herrera. |
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Family, company and property Diagnosis. |
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It is necessary to analyze the Family Companies from an integral perspective that involves its’ three fundamental elements: Family, Property and Business Management, focusing basically on five aspects: family functions and roles; Corporate and Family Governance; Strategy and future approach; Family Constitution; Leadership succession. |
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Family Protocol. |
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This protocol implements rules and principles that may orient the family's organization. This rules and principles include those which are in this document and those of the Familiar statutary dispositions that are drawn up for each particular family. This tool helps decrease the posibility of future conflicts and stablishes parameters in order to treat them in case they appear. It also contributes on the definition of inside politics of the family’s strategic planning course; it unites the intrests of the family and company; and contributes to preserve or increase the family union, defending the cardinal principals and behavior rules of the Family Company to be considered by actual members and future generations. |
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Corporate and Familiar agreement outline. |
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For this kind of companies, it is necessary for the family to establish some common rules for the company and business management. Rules that contemplate the actual circumstances, intrests and expectations that each person has deposited on the organization, in a global economy frame that demands the company: transparency, reliability and Good-faith.
n this manner, this instruments regulate the organization and the company’s management, its’ economical and professional relations between the owners' family and the company and also the coordination between the company, the family and the company’s different groups of intrests, with the purpose of effectively and successfully continuing the company through out the next generations. All of this is possible by enhancing the internal and external company’s consolidation with efficiency, transparency and responsibility. |
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Corporate Governance in Family Companies. |
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In the frame of Corporate Governance, the Family Companies needs to implement certain outlines in order to achieve the company’s management objectives. This measures have to come from the actual or future owners and its’ directives. In this context, the Family Companies should guide their behaviors in combination with the guidelines that stablishes the Corporate Governance. Also, they may need to attend their particular requirements, due to the unique characteristics of this type of organization, in which, the family, as owner, plays a fundamental role and can not act autonomously, disregarding the company's intrests. |
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In this way, the drawn outline inclines for the internal and external company’s consolidation, aiming for efficiency, transparency and responsibility, from its’ partners and administrators, gathering up all Governance principles. This aims for: |
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The company’s self-regulation, adopting a group of instruments and mechanisms directed to procure transparency, through action standards for owners and administrators; Through the recognition of owners’ rights and; |
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Though the management of public relations with third parties, looking up not only for efficacy and competivity as fundamental objectives, but showing a compromised acting (CSR: Corporate Social Reasonability) for the company’s benefit and also for the owners, clients, collaborators and other groups of intrests, based on ethics and own values adopted by the organization. |
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Empowerment of the Board of Executive Directors. |
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Understanding the board of executive directors of a company as the ones’ who rule and command the organization, it is vital to prepare them in different levels, attempting to fulfill a proper orientation of the business, giving them the proper tools so the Directive Organ becomes a value generator and also a strong commander on corporate practice, for the company’s sake.
In this sense, the corporate organizations must take the necessary measures in order to achieve the professionalization of it directors. This will make the company evolve from a merely “personal” business, into a structured organization that bases its’ actions on strategic planification and the professional capacity of its’ directors, permitting it to consolidate dynamic, proactive, value generator and responsible members, that will act harmonically with the company’s goals. |
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Family Companies Strategic Planning. |
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The Family Company’s strategic planning consists in developing a Parallel Plan (PP). This process promotes the exchange of interest, concerns and most importantly, expectations of the family and business, in an honest and clear way. One of the principal advantages of using the PP, is knowing the families' and companies' goals. This due to the fact that what generates most conflict in these relations are the expectations, and when these are not clearly discussed and clarified between the parties, the conflict arises.
In general, the company is always centered on its performance, in the market’s demands and in the constant changing in order to stay competitive; the family worries on its’ needs, concerns, emotions and its’ own stability. The friction in between family and business is what makes this Family Companies unique. Due to this, the balance between this two is where the efforts must be focused at all times.
In order to create a PP, a series of activities shown below, must be developed: |
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Strategic Plan Formulation; |
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Methodology for the Plan's publicity in order to reach all the organization, in the search of a Shared Vision. |
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Empowerment of the Management Skills regarding company changing; |
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Design of a Management Monitoring and Measuring System. |
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Corporate Estate |
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The Family Company estate in Colombia has become one of the key points to investigate and study in depth because of its’ grand incidence on its' continuance through time. In worldwide proportions, from 100 Family Companies created, approximately only 30 survive the second generation, and for the third generation the expectancy is barely of a 13% of the initial 100.
In this manner, this products’ objective is to provide to all Family Companies a relevant tool that identifies the principal causes of Family Companies Mortality. Most of the time, if not properly analyzed and treated with pertinent measures, the corporate estate may become an absolute failure in a familiar and management level.
This product is directed to business family members that have been, are or will be main part of a management or familiar estate process, which implies a direct contact with the founder members of first and second generations, and in some cases, other family or company members that have a preponderant role in the process.
Here are some of the activities that must be taken into account in this type of processes: |
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Previous Founders’ preparation. |
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Successors’ preparation |
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Preparation of the Company. |
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Family’s preparation |
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Shareholders’ preparation. |
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Coaching. |
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Coaching is a conversational process though which the CHOACH helps and supports the family member. Previously informed, this family member chooses the many options he has in order to grow, achieve goals, acquire extraordinary results and perform the proper actions to conquer his objectives.
Different from therapy or consultancy, the primary focus of coaching is the creation of strategies that may be taken into action in order to obtain specific results for the company and family.
Usually, the basic supposition with coaching is that, with the Coach's support, teams and
individual people are capable to generate their own solutions, providing different approaches that support them in order to discover.
There are many reasons why a person (or family) would choose to work with a Coach: |
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Better Family Relation. |
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Stronger communication bonds. |
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Family and work are out of balance and this is causing undesirable consequences. |
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Unhappiness with your current business and family situation. |
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There are problems related to family or company members. |
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Corporate and Patrimonial Legal Order. |
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It may occur the posibility of a societary type revision of the company's functions, making a suitable legal and patrimonial separation, in order to analyze and check the actual state of the business organization, attempting to foresee any negative situation that may seriously affect the company's income and patrimonial stability.
Our advice in this event is to direct and analyze the various societary types regulated by the actual legislation. Also determine the advantages and disadvantages of maintaining the same legal constitution and all issues referred to the societary transformation process. |
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Patrimonial Protection and Security outlines |
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This product prevents the arising of eventual negative situations that affect the patrimonial stability of companies and families. This is done by implementing certain guidelines that go with the needs, interests, and specific concerns of our clients, based in the actual legislation. This may contain several alternatives, such as: Holding Companies, Foundations of Private Interests, Foreign Corporations, in between others. |
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