Nov 25, 2006 11:43
17 yrs ago
2 viewers *
English term
looking for a word: preemptive action to protect a family business from .....
English
Bus/Financial
Business/Commerce (general)
looking for a word: preemptive action to protect a family business from being affected from family disputes in a succession process.
I'm translating a text about a family business from problems that might arise when there is a handover to a new generation (ie, the majority owner dies and the kids take over).
The context is companies with majority family shareholders, although there are other shareholders who are non-family.
The idea is to by setting mechanisms in place that ensure that the business as a going concern is not affected by family disputes.
The Spanish word used is 'blindaje', which literally means 'armour-plating' (armour-plated trucks, for example, and the idea can be extended to bullet-proofing, as in bullet-proofed glass). The metaphor is obvious: you expect danger and you take measures to protect yourself beforehand.
Apart from the fact that the military metaphor is overly strong, there are no associations between this term and 'family business' on the web.
So I need to brainstorm a word that adequately expresses the notion contained in the keywords above (inserted in triangular brackets) for the family business context.
TIA:-)
I'm translating a text about a family business from problems that might arise when there is a handover to a new generation (ie, the majority owner dies and the kids take over).
The context is companies with majority family shareholders, although there are other shareholders who are non-family.
The idea is to by setting mechanisms in place that ensure that the business as a going concern is not affected by family disputes.
The Spanish word used is 'blindaje', which literally means 'armour-plating' (armour-plated trucks, for example, and the idea can be extended to bullet-proofing, as in bullet-proofed glass). The metaphor is obvious: you expect danger and you take measures to protect yourself beforehand.
Apart from the fact that the military metaphor is overly strong, there are no associations between this term and 'family business' on the web.
So I need to brainstorm a word that adequately expresses the notion contained in the keywords above (inserted in triangular brackets) for the family business context.
TIA:-)
Responses
| 4 +1 | succession planning |
tazdog (X)
|
| 5 | advance action / action in advance |
zax
|
| 4 | Preclude/forestall - meaning to anticipate problems |
Anna Maria Augustine (X)
|
| 3 +1 | pre-emptive action |
David Knowles
|
| 3 +1 | asset protection [planning] |
Alexander Demyanov
|
| 3 +1 | safeguarding (of the management process) |
Ross Andrew Parker
|
| 3 | take adequate precautions (to protect etc) |
Nesrin
|
Change log
Nov 25, 2006 12:06: Steffen Walter changed "Field (write-in)" from "looking for a word: preemptive action to protect a family business from being affected by family disputes" to "(none)"
Responses
+1
1 hr
Selected
succession planning
The general concept you describe is known as "succession planning":
***Succession Planning*** for Family Business
The numbers appear alarming. Only one-third of family-owned businesses survive the transition to the second generation. And of these businesses, again only one-third will survive to the third generation, meaning that the chances your grandchildren will take over your business are about 1 in 10.
As a business owner, you'll want to ensure that your business continues to succeed after you retire, whether your children succeed you or you sell your business to others.
http://tinyurl.com/yyojcf
If you can't work this term in to fit your context, you might want to read through the above article or one of the many others out there on the subject (http://www.google.com/search?num=100&hl=en&lr=&q="family bus... - you may well find something you can use.
***Succession Planning*** for Family Business
The numbers appear alarming. Only one-third of family-owned businesses survive the transition to the second generation. And of these businesses, again only one-third will survive to the third generation, meaning that the chances your grandchildren will take over your business are about 1 in 10.
As a business owner, you'll want to ensure that your business continues to succeed after you retire, whether your children succeed you or you sell your business to others.
http://tinyurl.com/yyojcf
If you can't work this term in to fit your context, you might want to read through the above article or one of the many others out there on the subject (http://www.google.com/search?num=100&hl=en&lr=&q="family bus... - you may well find something you can use.
Peer comment(s):
| agree |
Dave Calderhead
: I encounter this term regularly as a service promoted by the accountancy firm I do part-time work for. One technique is to set up a trust or similar legal entity as shareholder of the family's shares with independant trustees. Also succession protection.
3 hrs
|
4 KudoZ points awarded for this answer.
Comment: "In fact, I am going to use both 'safeguard' (a wonderful word for my context), and 'sucession planning'. The word comes up a lot, so both will serve in different contexts:-) I will award the points to Cindy cos I expect to have the opportunity sometime to buy Ross a drink (he lives not too far away;-))
Thanks to everybody for their suggestions:-)"
21 mins
advance action / action in advance
advance protection
23 mins
Anna Maria Augustine (X)
France
Native in English
&
English
Works in field
Related KudoZ points
:
28
Preclude/forestall - meaning to anticipate problems
We use "prevent "by anticipating well in advance.
penguin Thesaurus
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Note added at 24 mins (2006-11-25 12:08:21 GMT)
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www.thefreedictionary.com preclude
penguin Thesaurus
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Note added at 24 mins (2006-11-25 12:08:21 GMT)
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www.thefreedictionary.com preclude
34 mins
take adequate precautions (to protect etc)
Something like that?
+1
40 mins
David Knowles
Native in English
&
English
Works in field
Specialist in Civil Law & Contracts
Native in: English 
Works in: Russian to English, English, Ukrainian to English
Related KudoZ points
:
28
pre-emptive action
I think you've found the words already! It is very common to talk about "protecting assets" and taking "pre-emptive action" to protect such assets.
Peer comment(s):
| agree |
Kim Metzger
: Pre-emptive measures to ensure family business continuity.
1 hr
|
+1
1 hr
Alexander Demyanov
Works in field
Software Engineering background
Native in: Russian 
Works in: English, Russian, Russian to English, and 1 more.
Related KudoZ points
:
32
asset protection [planning]
+1
4 hrs
Ross Andrew Parker
Native in English
&
English
Specializes in field
An eye for detail
Native in: English
Works in: Catalan to English, Spanish to English
safeguarding (of the management process)
That's all that comes to mind right now.
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Note added at 4 hrs (2006-11-25 16:12:47 GMT)
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This would take advantage of the "salvaguardar" idea referred to by the author.
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Note added at 5 hrs (2006-11-25 17:23:04 GMT)
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In the spirit of brainstorming, I'll also throw "insulating" and "shielding" into the pot ;-)
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Note added at 4 hrs (2006-11-25 16:12:47 GMT)
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This would take advantage of the "salvaguardar" idea referred to by the author.
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Note added at 5 hrs (2006-11-25 17:23:04 GMT)
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In the spirit of brainstorming, I'll also throw "insulating" and "shielding" into the pot ;-)
Note from asker:
| Thanks Ross: will you settle for a drink sometime????!!!! |
Discussion