Resources

Center for Creative Leadership, One Leadership Place, P.O. Box 26300,
Greensboro, North Carolina 27438-6300; (336) 545-2810 or http://
www.ccl.org.
Next Generation Leadership Institute, Loyola University Chicago Family
Business Center, 820 N. Michigan Avenue, Suite 1416, Chicago, Illinois
60611; (312) 915-6490 or http://www.sba.luc.edu/centers/fbc.
The Drucker Foundation website: http://druckerfoundation.org/. Contains
many articles on leadership by some of today’s finest leaders.

Suggested Additional
Readings

Developing Family Business Policies: Your Guide for the Future, by Craig E. Aronoff,
Joseph H. Astrachan, and John L. Ward. Marietta, GA: Family Business
Consulting Group/New York: Palgrave Macmillan, 2011. www.efamily
business.com.
Family Business Succession: The Final Test of Greatness, by Craig E. Aronoff,
Stephen L. McClure, and John L. Ward. Second Edition. Marietta, GA:
Family Business Consulting Group/New York: Palgrave Macmillan,
2011. www.efamilybusiness.com.
90 RESOURCES AND SUGGESTED ADDITIONAL READINGS

The Leader of the Future, edited by Frances Hesselbein, Marshal Goldsmith,

and Richard Beckhard. San Francisco: Jossey-Bass, 1996.
Letting Go: Preparing Yourself to Relinquish Control of the Family Business, by Craig
E. Aronoff. Marietta, GA: Family Business Consulting Group/New
York: Palgrave Macmillan, 2011. www.efamilybusiness.com.
Mary Parker Follett: Prophet of Management, edited by Pauline Graham, with
an introduction by Peter F. Drucker. Boston: Harvard Business School
Press, 1996.
Nurturing the Talent to Nurture the Legacy: Career Development in the Family Business,
by Amy M. Schuman. Marietta, GA: Family Business Consulting
Group/New York: Palgrave Macmillan, 2011. www.efamilybusiness
.com.
 Notes

1. Tagiuri, Renato, and John Davis. “Bivalent Attributes of the Family Firm.”
Working Paper, Harvard Business School, Cambridge, MA. Reprinted
Family Business Review, Volume 9, Issue 2 (Summer 1996), pp. 199–208.
2. Aronoff, Craig E. Letting Go: Preparing Yourself to Relinquish Control of the
Family Business. Marietta, GA: Family Business Consulting Group/New
York: Palgrave Macmillan, 2011, p. 67.
3. Nelton, Sharon. “Leadership for the New Age.” Nation’s Business (May
1997), pp. 18–27.
4. Winans, Christopher. Malcolm Forbes: The Man Who Had Everything. New
York: St. Martin’s Press, 1990, p. 36.
5. Ibid., p. 49.
6. O’Neill, Jim. “A Quick Study.” Philadelphia Inquirer, June 27, 2004,
pp. M1+.
7. “McIlhenny Co., Makers of Tabasco Hot Sauce.” Family Business Advisor,
Volume 13, Issue 3 (March 2004), pp. 4+.
8. Senge, Peter, Art Kleiner, Charlotte Roberts, Richard Ross, George
Roth, and Bryan Smith. The Dance of Change: The Challenges of Sustaining
Momentum in Learning Organizations. New York: Currency Doubleday,
1999, pp. 10–14.
 Index

Accountability, 32, 80 Developing Family Business Policies: Your

Adelphia, 17 Guide to the Future, 52, 89
Articulate, 8, 16, 28, 35–37, 65–66, 87 Directing, 20–31, 66, 81–83, 85–87
Asset, 10, 13–16, 28, 47, 73 Directors. See also Board of directors
Authority, 24, 30–32, 34, 70 independent, 46
lead, 12
Board of directors, 10–13, 16–18, 32, Disabilities, 82
37, 46, 47, 52–54, 60, 65, 89–70, Distributions, 28
80–81, 2 Dividends, 12, 15, 28

Center for Creative Leadership, 61, 89 Education, 37–38, 53, 60, 64, 79, 87
CEO, 1, 5–7, 10–16, 26, 31, 36–37, Emotion(al), 14, 17, 54, 85
44–46, 54, 61, 65, 69–71, 78, 79 Employee, 1, 5, 14–17, 19–22, 25, 29, 38,
CFO, 7, 13 59, 64, 66, 69, 80, 82, 86
Chairman, 10–12, 46–47 Employment, 9, 14, 50–51, 52
Chief emotional officer, 54 Ethics, 17
Children, 20, 25, 44–47, 50, 58, 69–74, Executive team, 7, 71
82, 85
Coaching, 21–31, 66, 81, 86 Family, 5, 8
College, 47, 60 council, 17, 46–47, 51, 53, 60, 62, 71,
Communication, 21–28, 40, 62 80
Conduct, 26, 52 foundation, 9, 13
Conflict, 8, 12, 52, 57, 69 leadership, 8–9, 12–13, 45–46, 47,
Corporations, publicly traded, 14 49–55
Counseling, 22–24, 66, 74, 81, 86 meetings, 9, 45–46, 70
Cousin generation, 23, 27–28, 52, 72 mission statement, 9, 17, 52
Cousins, 7, 17, 30, 36, 43–44, 50–51, newsletter, 45, 51
71–72, 86 office, 9, 12
Credibility, 3, 6, 10, 21, 24, 34–38, 47, Family Business Succession: The Final Test of
62, 64–67, 77, 80 Greatness, 57, 72, 89
Culture, 8, 14–16, 21, 23, 29–30, 57, 66, 80 Followship, 71, 74
Customers, 25, 44, 69 Forbes, 34
Delegating, 23–32, 58–59, 66, 81, 85–87 Forbes, Bruce, 34
94 INDEX

Forbes, Malcolm S., 34, 91 Nurturing the Talent to Nurture the Legacy:
Founding generation, 24–27 Career Development in the Family
Business, 57, 65, 90
Gehry, Frank, 39
Goals, 11, 14–16, 19, 21–23, 34–37, Owner, 1–2, 5–6, 10–12, 18, 22, 24,
60–61, 73, 80, 87 25, 29–30, 49, 52, 64, 67, 70, 73,
Grandchildren, 61 85
Gutmann, Amy, 38–39 Ownership, 1, 3, 5, 6, 10–13, 20–22,
28–30, 32, 46, 67, 73, 80, 85
Influence, 17, 34–35
Patience, 38–39, 67, 68, 77
Junior boards, 60, 62 Patient capital, 11
Performance, 11–12, 38, 51
Leaders Perks, 28
characteristics, 34–37 Philadelphia Inquirer, 39, 91
invisible, 45 Philanthropy, 8–9, 52–53
Leadership Policy, 9, 17, 50, 52–53, 55, 64, 73, 81
definition, 2 Power, 16, 34–35, 49–51, 65
developing, 57–62 Princeton University, 38
opportunity, 36, 51, 58, 65, 66 Profits, 28
preparation, 59
skills, 59 Reeve, Christopher, 82
styles, 20–25, 33 Reich, Robert, 83
Lenders, 25 Religious organizations, 46, 60
Letting go, 78 Responsibility, 17, 31, 37, 58–70, 79, 87
Letting Go: Preparing Yourself to Relinquish Retirement, 78–79
Control of the Family Business, 11, 79, 91 Retreats, 53
Loyalty, 11, 14, 15, 70 Rigas, John 17
Loyola University Chicago’s Family Rigas, Timothy, 17
Business Center, 61, 89 Risk, 25, 38, 67

Magnet Sales & Manufacturing, Inc., 19 Salaries, 28

Management, 7–8, 11, 23, 30, 40, 65, 71, School, 46–47, 50, 60–62
73, 81, 86 Senge, Peter, 65, 91
Managers, 8, 23, 64 Senior generation, 10, 57, 65–66, 77, 87
McIlhenny Co., 60, 91 Servant leadership, 10
Mentor, 21, 29, 65, 79 Shadow boards, 60
Shareholder, 1, 5, 11, 27–28, 36, 50, 52,
Nanji, Anil, 19 60, 64, 69, 80, 86
Nation’s Business, 19 Sibling generation, 25–27, 72
Next generation, 2, 5, 10, 14, 20–23, Siblings, 1, 7, 9, 25–27, 44, 58, 64,
29–30, 58, 61–65, 71–72, 79, 70–74, 78
81, 86 Simmons, Tony, 60
Next Generation Leadership Institute Spouses, 51–52
(NGLI), 61, 89 Strategic planning, 64
Non-family executive, 2, 5, 7, 22, 25, 47, Strategy, 6–7, 13, 66, 70
79 Succession, 5, 57, 72, 89
 INDEX 95

Successor, 5, 70, 72–73, 77–78 University of Pennsylvania, 38–39

Suppliers, 25, 70
Values, 8, 10–11, 14–18, 27–28, 35, 37,
Tabasco, 60, 91 51–52, 55, 66, 80
Three-circle model, 5–6, 73 Vision, 7, 15, 25–28, 44, 80, 83, 86
Transition, 9, 26, 30, 61, 73, 79
Trust, 14, 17, 23, 29–30, 35, 39–40, 47, Winans, Christopher, 34, 91
50, 67, 74, 80, 86 Women, 46, 54
 The Authors

Craig E. Aronoff is Co-founder, Principal Consultant, and

Chairman of the Board of the Family Business Consulting
Group, Inc.; Founder of the Cox Family Enterprise Center; and
current Professor Emeritus at Kennesaw State University. 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.

Otis W. Baskin is a Consultant of the Family Business

Consulting Group, Inc., Professor of Management at the George
L. Graziadio School of Business and Management at Pepperdine
University, and the Founding Director of the Family Business
Forum at the University of Memphis.