Part IV of Engaged Ownership discusses three common situations that can challenge owners' efforts at developing engagement: when the ownership group includes managing and non-managing owners, when an owner is a trustee, and bringing in outside investors.

Each of these situations increases the complexity of ownership decision-making and governance and requires conscious effort by the owners to develop alignment, in order to overcome the challenges.

Part III of Engaged Ownership lays out the practice of engaged ownership, and how owners do the work of developing and maintaining engagement. It discusses the purposes and benefits for creating forums for decision making—board of directors, owners council, family assembly—and why each is important for identifying and carrying out the unique goals and responsibilities of owners, board, family, and management. Part III lays out a process for allocating decision-making power among owners, board, and management, and how the nuances of decision-making—agenda setting, the right to be informed, the right to be consulted, veto power, etc—play alongside the power to make the decision.

Part II of Engaged Ownership provides a foundation for family business owners seeking to increase engagement. You will learn about the complex relationships among owners, board of directors, management, and family, and how those wearing multiple “hats” can better navigate their responsibilities. You will also learn how family history, legacy, and natural governance affect the culture and environment within the family business system. Perhaps most importantly, Part II teaches the importance of a family’s Core Capital—human capital and enterprise capital, in addition to financial capital—and how it can be put to use both inside and outside the business. With an understanding of Core Capital, listeners will learn how to develop a Shared Purpose, Vision & Mission for their enterprise. Shared Purpose is the glue that binds stakeholders together, and Vision and Mission become the animating drivers for decision making and long-range planning.

Part I of Amelia Renkert-Thomas’s critically acclaimed debut, Engaged Ownership: A Guide for Owners of Family Businesses, introduces the concept of engaged ownership—a different paradigm for family business owners and advisors. Engaged family business owners bring a deep understanding of their core capital and vision for the future. Advisors who understand the concepts and process of engaged ownership are better equipped to work effectively with their family business clients.