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The Family Wealth Sustainability Toolkit: The Manual by Fran Lotery, Fredda Herz Brown

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HUMAN CAPITAL: PEOPLE AT THEIR BEST

When all is functioning well among a family's human capital, individuals will have an understanding of the shared mission and will identify with the value of the enterprise. They will be both engaged and inspired. And, whether working or nonworking members of the enterprise, they will feel empowered to seek personal fulfillment. Their richness as individuals will support the whole of the enterprise through times of transition, expansion, or marketplace change.

The strength derived from human capital doesn't just happen. Like all else in a family enterprise, it thrives with careful nurturing and attention. Each family that shares wealth will find its own way to foster enrichment of its human capital. For some members, participating in family governance can afford opportunities for continued growth and understanding as they take on defined roles and responsibilities. For others, family enterprise activities or shared community initiatives can enhance self-worth while providing insight into family values. A true family commitment to human capital development extends across generations, inspiring individuals to strive for their personal best and contributing to the good of the enterprise.

A $50 million partnership was experiencing stagnation. Several attempts to encourage future leaders to initiate new ideas only resulted in lost profits, frustrated managers, and disappointed partners. A management retreat focusing on strengthening human capital ...

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