XPX Dallas - Management Review: Hire Family Members or Progressional Manager (Case Study)

Back when I attended the University of North Texas as an eager Freshman starting my journey to a BS/MS in Accounting with dreams of the Big 4, I lived in the dorms. Kerr Hall to be exact, the "athletic" dorm, which meant a little better food. I had a blast but at the same time, I studied hard. I knew I had to have at least a 3.5 or higher to ensure I would be hired by a top accounting firm, which downstream was Ernst & Young. But I digress, because across from my room there was John Doe (his name confidential for obvious reasons). He was there to get a business degree - any degree, really - so that he could go back as a Vice President in his dad's company. His dad built a grocery store chain in Texas and Oklahoma, which John bragged about constantly, all the while peeling out in the dorm parking lot in his brand new convertible Mustang GT.

My point was this - John was guaranteed a job when he graduated, high up in his dad's family-owned company and as of today, highly likely the CEO and owner. I always wondered, "What would the employees think about John skipping the line because he's the owner's son and becoming a manager with no experience? What would the seasoned, experienced employees and managers think about John being in a position beyond his experience? How would this decision affect the company?" Knowing John at the time, he would have a hard time of it, but being the owner's son, failure would not be an option.

With that example in mind, let's explore organizational theory and how it impacts family-owned businesses and their leadership. Join our panel as we explore the following questions and more:

1. Should family members be hired as C-level executives or high-level managers?

2. Should the company hire professional managers to take the company to the next level? Or a combination?

3. Should they hire fractional executives who can mentor family members who will take the ranges, guided by their experience?

These are important questions to answer, since the strategic direction, growth and financial performance, strength of the management team, exit readiness and market attractiveness all depend on it. Look forward to seeing you!

Click here to read the Case Study in preparation for the meeting.

Agenda:

8:00 – 9:45 AM CST:

8:00 AM Check-in & Breakfast
8:30 AM Kickoff & Introductions
8:40 AM Meeting Presentation
9:30 AM Collaboration Corner
9:45 AM Adjourn

Registration Fees: 

XPX Dallas Members in Good Standing: Free.  Registration is required for food order purposes.  Please be sure to sign up.

XPX Chapter Network Members: $45.00
XPX Chapter Network Members Same Day/Walk-in Fee: $55.00

Non-Members: $55.00
Non-Members Same Day/Walk-in Fee: $65.00

Registration includes a full buffet breakfast plus coffee and juice.

First time guest. (Member referral is required- members (NOT GUEST) must email angie@exitplanningexchange to sign up their guest) 

Event Registration Cancellation Policy: You may request a full refund for your event registration up to 72 hours before the scheduled date and time. After that deadline, the sale is final and no refunds will be issued. The registration fee is non-transferable, non-substitutable and no replacements are offered. from the list.