Trevor Family-Business Compensation Framework PDF Download
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Author: Andrea L. Santiago
Publisher:
ISBN: 9781526444950
Category : Business consultants
Languages : en
Pages :
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Book Description
After seeking approval from his siblings, Mark Trevor hired Virginia Scott, a family business consultant, to enlighten his family about possibly unfair compensation practices in their 50-year-old family business. The ninth of Ben and Amy's 12 children, Mark believed that the family's current practice of providing equal salaries for different types of work and giving special allowances due to marital circumstances were unfair. His siblings, with ages ranging from 37 to 58, had varied opinions about this.Virginia initially thought that the case of the Trevors would be straightforward. She had more than 15 years of experience working with business families and she had been successful in making family members understand that each held a different perspective depending on whether they were involved in the family business as owners or managers or not at all. This is a perspective presented by Tagiuri and Davis (1992) in their three-circle model of family businesses. By making family members in previous engagements differentiate their family, ownership, and business positions, they had become more sensitive to the concerns raised by the other.This time, however, Virginia would need to work with each of the 10 living siblings as each has unique circumstances. Certainly, each would have their own views about how the family business should compensate them; after all, they are all children of the founders. Virginia would have to tread carefully, though, so as not to antagonize any of the siblings; but, she needed to deal with them firmly so as not to be pulled by one or the other into a triangle relationship where she will be forced to take sides. How should Virginia strike the balance and help the family members understand each other's perspective and accept a business compensation framework that would be perceived as fair by everyone? This paid engagement was preliminary but Virginia knew that if the Trevor's accepted the framework, this would lead to a separate, more substantial engagement focused on preparing the compensation structure for the family.
Author: Andrea L. Santiago
Publisher:
ISBN: 9781526444950
Category : Business consultants
Languages : en
Pages :
Get Book
Book Description
After seeking approval from his siblings, Mark Trevor hired Virginia Scott, a family business consultant, to enlighten his family about possibly unfair compensation practices in their 50-year-old family business. The ninth of Ben and Amy's 12 children, Mark believed that the family's current practice of providing equal salaries for different types of work and giving special allowances due to marital circumstances were unfair. His siblings, with ages ranging from 37 to 58, had varied opinions about this.Virginia initially thought that the case of the Trevors would be straightforward. She had more than 15 years of experience working with business families and she had been successful in making family members understand that each held a different perspective depending on whether they were involved in the family business as owners or managers or not at all. This is a perspective presented by Tagiuri and Davis (1992) in their three-circle model of family businesses. By making family members in previous engagements differentiate their family, ownership, and business positions, they had become more sensitive to the concerns raised by the other.This time, however, Virginia would need to work with each of the 10 living siblings as each has unique circumstances. Certainly, each would have their own views about how the family business should compensate them; after all, they are all children of the founders. Virginia would have to tread carefully, though, so as not to antagonize any of the siblings; but, she needed to deal with them firmly so as not to be pulled by one or the other into a triangle relationship where she will be forced to take sides. How should Virginia strike the balance and help the family members understand each other's perspective and accept a business compensation framework that would be perceived as fair by everyone? This paid engagement was preliminary but Virginia knew that if the Trevor's accepted the framework, this would lead to a separate, more substantial engagement focused on preparing the compensation structure for the family.
Author: C. Aronoff
Publisher: Springer
ISBN: 0230116000
Category : Business & Economics
Languages : en
Pages : 128
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Book Description
Compensation is one of the most discussed items in business. And in a family business it gets personal. Authors Aronoff, McLure and Ward answer the some of the most important questions when it comes to the family what is fair pay among family members? How do I determine appropriate pay for my child? What should I pay my shareholders?
Author: Craig E. Aronoff
Publisher:
ISBN: 9781891652288
Category :
Languages : en
Pages : 91
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Book Description
Author: Jörg Schäfer
Publisher: Springer
ISBN: 3658145471
Category : Business & Economics
Languages : en
Pages : 191
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Book Description
Jörg Schäfer investigates the influence of family firm specific decision rationales based on socioemotional wealth on vertical and horizontal pay ranges in family firms. Building on a primary data set of over 200 family firms in Germany and applying multiple regression analysis techniques, as well as, the firm conceptual foundation in family firm and compensation theory, the presented study provides answers regarding antecedents of pay variation, and the factors that drive different family firms to pursue and implement specific pay structures and pay variations. Furthermore, the dissertation contributes to the current research discussions, by partially validating the FIBER scale, proving the heterogeneity of family firms and adding robustness to methodology and range measures in the compensation context.
Author: Craig E. Aronoff
Publisher:
ISBN:
Category : Family-owned business enterprises
Languages : en
Pages : 0
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Book Description
Author: Marshall Romney
Publisher: Pearson Higher Education AU
ISBN: 1442546794
Category : Business & Economics
Languages : en
Pages : 810
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Book Description
At last – the Australasian edition of Romney and Steinbart’s respected AIS text! Accounting Information Systems first Australasian edition offers the most up-to-date, comprehensive and student-friendly coverage of Accounting Information Systems in Australia, New Zealand and Asia. Accounting Information Systems has been extensively revised and updated to incorporate local laws, standards and business practices. The text has a new and flexible structure developed especially for Australasian AIS courses, while also retaining the features that make the US edition easy to use. nt concepts such as systems cycles, controls, auditing, fraud and cybercrime, ethics and the REA data model are brought to life by a wide variety of Australasian case studies and examples. With a learning and teaching resource package second to none, this is the perfect resource for one-semester undergraduate and graduate courses in Accounting Information Systems.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 368
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Book Description
BLACK ENTERPRISE is the ultimate source for wealth creation for African American professionals, entrepreneurs and corporate executives. Every month, BLACK ENTERPRISE delivers timely, useful information on careers, small business and personal finance.
Author: Trevor Colling
Publisher: John Wiley & Sons
ISBN: 1444323113
Category : Business & Economics
Languages : en
Pages : 455
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Book Description
This revised edition of Industrial Relations: Theory and Practice follows the approach established successfully in preceding volumes edited by Paul Edwards. The focus is on Britain after a decade of public policy which has once again altered the terrain on which employment relations develop. Government has attempted to balance flexibility with fairness, preserving light-touch regulation whilst introducing rights to minimum wages and to employee representation in the workplace. Yet this is an open economy, conditioned significantly by developing patterns of international trade and by European Union policy initiatives. This interaction of domestic and cross-national influences in analysis of changes in employment relations runs throughout the volume.
Author: Gilbert Kodilinye
Publisher: Routledge
ISBN: 1136279318
Category : Law
Languages : en
Pages : 758
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Book Description
The law of trusts is a subject of considerable importance in the Commonwealth Caribbean. Traditional areas, such as testamentary trusts, resulting and constructive trusts, and charitable trusts, are now fully incorporated into the mainstream substantive law of the region, while the principles associated with offshore trust regimes are constantly expanding and developing. This book has been updated to reflect new case law and legislation, and to highlight recent trends relating to both traditional and offshore trusts.
Author: Peter A. Bamberger
Publisher: SAGE Publications
ISBN: 1452221812
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
Human Resource Strategy provides an overview of the academic and practitioner responses to these and other questions. Applying an integrative framework, the authors review twenty years' worth of empirical and theoretical research in an attempt to reconcile often-conflicting conceptual models and competing empirical results. The authors present much of the relevant research in the context of the critical strategic decisions that executives must actually make with regard to human resource investments and deployments. As a result, often complex theoretical models and scientific findings are presented such that they are not only understandable but also highly relevant to non-research-oriented practitioners.
