As Seen in Crain’s Detroit Business – Consultants can help family businesses with their policies
When Les Stanford Chevrolet Cadillac Inc. executives met with their consulting group to help with succession planning, they were told their third-generation family company needed policies in place for the next generation of leaders
“They’ve seen some family situations that may have torn families apart,” said Gary Stanford, vice president. “With their experience and knowledge, they help family businesses smooth out these rough roads you can possibly get into.”
Les Stanford Chevrolet was founded in 1968 and is celebrating its 50th anniversary.
Also, the Dearborn-based dealership sells and services new and pre-owned vehicles.
The company has about 180 employees, including those at Stanford-Allen Chevrolet Cadillac Inc., the company’s Monroe-based location.
Family and Business alignment is hard to find when business issues liven up family dynamics.
However; with proper process, governance policies, and mutual respect built over time, a Family Business can thrive through multiple generations. Click the following links for more drill-down resources on Family Dynamics and Family Governance.