Institutionalize
Institutionalization
Through this institutionalization process, the most convenient governing bodies to the company structure will be designed and created so that the most appropriate decisions can be made and seeking their total operability.
The important thing will not be that these government structures are formally constituted but that in practice they work.
But the thing is not there, just as we have to institutionalize the company, we will also have to institutionalize the family with organizations such as the Family Assembly, the Family Council or the Family Office for the most developed family businesses, tools capable of producing the cohesion necessary to develop sufficient harmony and respect between the components of the family and the company.
Therefore, the greater the complexity of the family and the company, the greater institutionalization must be given to the company and family to maintain the necessary balance between the two.
And finally, it is part of this institutionalization process the FAMILY PROTOCOL. It is the document signed by the family in which the agreements are collected where the “rules of the game” that the family imposes on how the family's businesses are going to be managed are reflected.