1. Empowered To Succeed By Brian Rainwater And Thaddaeus Sandow

2. Teamwork in a Family Business  Developing teamwork in a family business can be a difficult task.  Creating job equity between family members and employees.

3. Enhancing Equity and Teamwork  Self-Managing Work Teams { Allowed to perform autonomously { Sense of Belonging { More Control over career

4. Advantages of Family Owned Business  Similar Goals  Sense of togetherness  Employees become part of the “family”  Family unity lays groundwork  Utilize talents of all associates

5. Potential Conflicts  Talents are not recognized  Bias towards family  Older managers fear change { Feel Threatened

6. Effective Team System  Establish a payment-foreknowledge compensation system { Skill Level based hierarchy { Reward for knowledge { Pay accordingly

7. Effective Team System  Improved Hiring –Interest in learning –Work well with others –Resilience –Stress Management

8. Effective Team System  Bonus System { Gains in efficiency { Shared equally { “Rainy-Day Fund”  ESOP { Feel Connected { Everyone is a player

9. Effective Team System  Faith in Company { Empowering People { Creating efficiencies  Outstanding Leadership { Understanding employees { Educate and Inspire by questioning { Create relationships

10. Conclusion  “Work teams ultimately make the basic management decisions”. –Dr. John Eldred

11. Bibliography  Progressive Grocer, January 1, 2004, p. 24. Copyright © 2004 by Progressive Grocer  http://highered.mcgraw- hill.com/sites/007282932x/student_view 0/chapter10/powerweb_articles.htm#