Developing a Family Constitution: Family Governance Structure

Developing a Family Constitution: Family Governance Structure

  • Case
  • Teaching Notes
Abstract

As family businesses progress and are transferred to the next generation, the founding family often devises rules in the form of a family constitution. This case explores one aspect of the family constitution, namely the governance structure that regulates how important decisions are made and what decisions the family will take. After his 80th birthday, Indonesian business group owner, Ongky Lim, sets in motion the transition of his family empire from the founder phase to a sustainable model for future generations. Having received so many different ideas, how should Ongky organize the family and its interaction with the business to be well prepared for the future? The case helps family owners appreciate the benefits of family rules and understand the types of rules required.

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