Enhanced family relationships

Situation

• The company was a multi-generation family-owned business that included eight different business units and conducted business internationally.
• Several of those business units were failing badly and putting the profitable businesses at risk.
• Family relationships were strained because roles among family members were not clearly defined.
• Renee was referred by the Company’s CPA.

Results

• Renee, working as an outside consultant in this situation, developed a management control system for the troubled business units.
• Acting upon Renee’s recommendations, the owners sold the unprofitable operations, and the family members divided the remaining business units into two separate entities, each owned by only one family.
• Family relationships have continued on a positive basis.
• Both entities are profitable today.