Advisor Stream Panel Bruce Hatcher Richard Owens, OAM Michael Perkins Mark Voeller Facilitated by Jill Thomas University of Adelaide Business School

Three Circle Model Taguiri & Davis (1992) Ownership FamilyBusiness

3 Family System Family Therapists Psychologists Business Management & Leadership System Business Consultants OD consultants Ownership / Governance System Estate Planners Accountants Lawyers SuccessionPlanning EstatePlanning How Consultants Typically Enter the Systems Unity Planning

4 The Systems Ownership FamilyBusiness Ownership / Governance System Values /Vision Legal Structure Ownership Transfer Board Family System Roles & Relationships Family Values Myths / Mores Conflict Resolution Clarity of Communication Business Management & Leadership System Mission & Strategy Culture of Organization Org Structure Compensation System Decision-making Process

5 The Core Disciplines Legal Legal Financial Financial Management Science Management Science Behavioral Science Behavioral Science

6 Differing Perceptual Filters: The Core Disciplines Family Ownership Business Mgt. Behavioral Management Financial Legal Individual

7 What type of knowledge base is needed for interdisciplinary consulting? Four Areas of Professional Services For Family Businesses and Enterprise Families Management Science FinanceLegalBehavioral Science Awareness Technician Proficiency Level of Professionals

MODELS OF TEAMS Consulting (Interdisciplinary) Teams—a pre ‐ existing team that is hired by the client Consulting (Interdisciplinary) Teams—a pre ‐ existing team that is hired by the client Collaborative (Multidisciplinary) Team—advisors from different disciplines who meet in a study group forum, get to know each other’s work, and bring one another into client situations on an as ‐ needed basis or in a “shadow” consulting function. Collaborative (Multidisciplinary) Team—advisors from different disciplines who meet in a study group forum, get to know each other’s work, and bring one another into client situations on an as ‐ needed basis or in a “shadow” consulting function. Accidental—advisors who meet and connect only through the client, coordinate their efforts, only in their work with that particular client Accidental—advisors who meet and connect only through the client, coordinate their efforts, only in their work with that particular client Dysfunctional—advisors unknown to one another; even if working with the same client they do so with no coordination Dysfunctional—advisors unknown to one another; even if working with the same client they do so with no coordination 8

Session 3: Theoretical Concepts and Models The Core Disciplines Content vs. Process Consulting Interdisciplinary Consulting

10 Expert Transactional Final reports Clients follow up on their own Shorter timeframe Curious Developing systems Outline of recommendations for discussion Consultant facilitates follow-up Longer timeframe How You Proceed: Distinguish Content vs. Process 1 Technical Content 1 Consulting Process Consulting

11 SuccessionBusiness Ownership Industrial psychology Organizational Development Organizational Transformation Strategic Planning Accounting Finance Insurance Legal Family Business Advisors How You Proceed: Consider Multi-disciplinary Approach Contentconsulting Processconsulting