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business
valuation measuring and managing

Questions and Answers of Valuation Measuring And Managing

=+z Why might the individual be willing to become a board member? Ideally, he or she should not be motivated primarily by money or status.
=+z Is the individual knowledgeable about the family’s dynamics and the challenges of the business?
=+z Does the individual have the necessary managerial skillset?
=+z Can the individual communicate with managers on equal footing?
=+z Does the individual have the skills, knowledge and time to do the board job?
=+11. Why is a shared identity and strong family cohesion not always beneficial for business families and their firms?
=+10. What do we mean when we say that family firms have ‘bivalent’ attributes?
=+9. Name some attributes, decision-making criteria and norms usually attributed to the family that might be beneficial for the firm. In what ways are they advantageous?
=+8. In what ways are family and business logics opposed? In what ways are they complementary?
=+7. Some argue that, over time and generations, family orientation (concern for harmony and continuity) overtakes entrepreneurial orientation (concern for innovation and growth). Put differently:
=+6. What does ‘role ambiguity’ mean in the context of family firms? Why is it a typical weakness of family firms?
=+5. In what way could the long-term orientation often attributed to family firms become a source of competitive advantage? In what way could it be a disadvantage?
=+4. What are typical resource advantages and disadvantages of family firms?
=+firms are naturally protected against agency conflicts.’ Do you agree? Why or why not?
=+3. Consider the following statement: ‘If family is involved in ownership and management, family
=+2. What are typical weaknesses of family firms?
=+1. What are typical strengths of family firms?
=+6. If you were advising this family, what action steps would you recommend in order to save this family business?
=+5. It is hard to have difficult performance conversations with family members. What are the key criteria for having them successfully? Is it too late for this family group? Why or why not?
=+ When did they start?
=+4. What are some of the issues impacting the success of the successor generation?
=+Are they just fighting about manufacturing losses?
=+3. If the manufacturing division were doing better would ‘everything be ok’?
=+2. Why is the discussion about moving to Mexico so difficult?
=+ What are the contributing factors?
=+1. Ed and Mike ran the business peacefully for 50 years. How is it possible that they would come to blows now?
=+z How do we structure governance, management and the firm overall so that a successor can take over?
=+z How should younger family members enter the firm, and what should they be responsible for?
=+z Should the predecessor have a role in the firm after handing over control?
=+z What role should the successor(s) play in the firm?
=+7. What are the advantages and disadvantages of applying the same family firm definition in different national and regional contexts?
=+6. Why are family firms more prevalent on the stock market in countries with relatively weak formal institutions?
=+5. What is your assessment of the predominant role of large family firms in many developing countries for the overall economic development of these countries?
=+4. Why are family firms more prevalent in countries with weak formal institutions?
=+3. In which industries are family firms particularly prominent? And why might this be so?
=+2. Why are family firms more prevalent among small firms than large ones?
=+1. What is the estimated contribution of family firms to GDP and employment? What is their share among the total population of firms?
=+6. For a family firm you know: position the family members, shareholders, board members and managers in the three-circle model. What are their goals and concerns?
=+what are related challenges and opportunities?
=+5. For a family firm you know: what is its position in the family business assessment tool? And
=+4. Why are there so many communication problems among family members who work together in the family business?
=+3. What are the potential sources of conflict between family owners involved in management and those not involved in management?
=+2. What modes of family influence may be overlooked when one determines family control only in terms of ownership, board and management involvement?
=+1. What are the particular advantages and disadvantages of using the two-circle model to describe family firms?
Supplier and customer segmentation—how does the customer categorize the supplier, how does the supplier categorize the customer, what is the level of commonality of view, and how can the
Supplier background—how significant the supplier is to the organization, what other projects are they involved in, what were the selection criteria, how did they score on those criteria, do they
Contract knowledge—what the supplier is contracted to deliver, to what standards, and to what price? In addition, what pricing methodology is being used, what are the key performance
For some contracts where the products or services have low strategic impact and where there are a number of suppliers in the market, is it time effective just to renew with the current supplier if
The principle of managing on a balance of contract and relationship is a key theme established in the opening chapter. During the exit phase do you believe that this balance may have to change? If
To what extent do you feel the exit phase of an engagement is sufficiently detailed to ensure all risks are identified and mitigation plans are put in place?
Understanding the supplier’s perspective and demonstrating your understanding can be positive.
Have you built up some “credits” in the relationship bank that you can cash in if required?
Over the course of the contract, how has the relationship been developed?
The state of the relationship will be influenced by the background to the exit.
In your opinion, what are the major reasons for suppliers to become less energized and committed over time?
Should suppliers of mission critical services be welcomed into the business and be encouraged to see themselves as part of the internal team? Or should they be kept at arm’s length?
From your experience, do you believe there is a risk that customers engage suppliers and assume that they will get on and deliver the required services for the duration of the contract because they
For remote communications, pay even more attention to the working code and communication forums. This point was covered in detail in chapter nine, cross-cultural working.
Be prepared to represent the supplier to internal stakeholders. In the introductory chapter the supplier manager’s representational role was established as a key part of his or her function.
Make sure feedback is genuinely two way—more than suppliers having the option of providing feedback to the customer, it is expected of them.
Ongoing positive challenge—ask questions, involve, discuss, engage.
Make sure that reviews balance reviewing the past with learning for the future.
Give rewards for overperformance as well as service credits for underperformance.Also remember that reward does not always need to have a monetary value.
Be aware that customers can lose focus and become complacent about the relationship.
Create the opportunity to step back from the day-to-day business so that the broader relationship can be discussed, and plans made.
Provide a sense of belonging—give new supplier team members the same level of induction and orientation to the business as that given to the original team during the integration phase of the life
Ensure that review meetings are dynamic and interesting and do not just rely on a standard agenda—vary they venue, have specific agenda items, invite internal stakeholders, avoid sameness.
Stay committed to review meeting frequency—cancellations signal to the supplier that you, the customer, are losing focus.
Establish the principle that the specific performance measures, be they KPIs or project deliverables, represent the minimum expected levels of performance. This will encourage a working culture of
Review KPIs frequently to ensure that they stay aligned with changing business requirements and priorities.
Involve the supplier in developing solutions wherever possible. Remember the guide point from the chapter on communicating and influencing—“direct on the what, engage on the how.”
When earned and when relevant, be prepared to act as a sponsor for the supplier to help them develop their presence and opportunities across the organization.
Encourage the supplier to be creative and innovative; provide feedback on the ideas, even if not actioned; and acknowledge when suggestions are adopted and value added—make sure they receive the
Share information, specifically updates in the business, on how the strategy is developing. This provides the supplier with a context for how their services are an integral part of the customer
Reinforce the service level agreement and key performance indicators(KPIs) at all reviews, as a positive reminder of the service requirements, and the ongoing performance against them.
Provide balanced feedback informally and as part of the performance review process. Often suppliers feel they only get feedback when there is a problem. Creating the balance is important.
Ensure that a code of practice has been put in place at the start of the engagement; review it regularly, update, and amend as the relationship develops.
Are conflicts necessarily negative? Can they be a catalyst for better future relationships?
In your experience, how knowledgeable are people in supplier management roles of the conflict and dispute resolution procedures that are included in the formal contracts that the organization has
Conflicts are often caused because the end customers do not always think through their requirements to the correct level of detail and expect suppliers to respond to conflicting and constantly
To what extent do you feel a code of conduct that includes a point on “how we will handle conflicts and disagreements in a collaborative manner” would make difficult conversations easier?
In your experience, how do suppliers respond to change requests—do they see it as, potentially, a conflict whereby they feel the customer is trying to get them to do more for less, or are they
To what extent do you feel that the business areas fully consider their changing requirements and take the time to define them clearly in a format that can readily be communicated to the supplier?
In your organization, do all contracts with suppliers have a specific section that specifies change control procedures?
What solutions do you suggest to enable us to move forward and action the change request?
Can we discuss possible opportunities to reprioritize the change requests currently in the system?
Looking at the existing change requests, are there any possibilities of achieving economies/time savings by combining some of the activities?
Linked to the preceding questions, what resources would you need to put in to meet the deadlines, and what costs would be involved?
What are the constraints on your ability to deliver to the requested deadline?
Can you provide me with a detailed breakdown of the schedule and work involved, given your understanding of requirements?
What is your rationale for seeing the change as being out of scope?(if the supplier manager and the business see it as in scope)
Can you talk me through your understanding of what the new requirements are and what you believe is involved?
In terms of importance, how does this request rate against other change requests already in the system?
What flexibility is there on completion date?
Implications for the business if the deadline cannot be met?
What is the deadline for completion of the work?
Have you prioritized items within the request on a “must have/nice to have” basis?
What is the budget?
If out of scope, is the budget available for the additional work?
In your view, is this change request in or out of scope given the parameters in the initial definition of requirements statement?

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