In the interview „A driving licence for shareholders – a mix of skills ensures professionalisation“, Prof. Dr Anne K. Heider explains which skills shareholders need in order to fulfil their role as owners in a family business professionally. Shareholder competence encompasses business management knowledge, communication and mediation skills, a basic understanding of the law, and a thorough understanding of one’s own company.
This article demonstrates that systematic skills development is of central importance to the long-term viability of family businesses. Family members take on different roles within the business and the entrepreneurial family, each of which requires specific skills. Heider cites family days, family committees and joint training programmes, amongst other things, as suitable formats. For the next generation in particular, such measures can simultaneously strengthen their emotional attachment to the business, family cohesion and their motivation to play an active role.
To embed shareholder competence on a long-term basis, Heider recommends setting out specific competence requirements in the family strategy. A so-called ‘shareholder licence’ can clearly set out the knowledge required for specific roles and decision-making powers. When selecting successors from within the family, externally developed competence profiles can also help to avoid conflicts and ensure that decisions are made in a transparent manner.
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Owner
Family strategy
Shareholder competence
Business family
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