Third-Generation Family Business Develops Strategic Plan and First-Ever Family Charter To Secure Their Legacy for Future
Company Profile:
- Third-generation family business and Top 20 largest refrigerated warehousing and logistics providers in North America providing integrated frozen and refrigerated logistics and distribution services for the food industry
- Full-service 3PL company with 7 warehouses and distribution centers spread across the state of Wisconsin and nationwide transportation services
Business Challenge:
- Three majority shareholders wanted to develop a business succession plan to help integrate their 4th-generation children into the business as they get older and graduate from college
- Senior leadership also needed to determine their vision for the Company’s future and create greater alignment across the enterprise to achieve those strategic objectives
Leadership Development, Strategic Planning, and Succession Planning solutions provided include:
- Conducted initial leadership assessment by interviewing all 12 Leadership Team members to hear their thoughts about what was working well and what changes might be required to achieve the Company’s growth goals
- Facilitated executive feedback session to debrief key assessment findings, review preliminary recommendations for change, and determine how best to improve leadership and organizational performance moving forward
- Provided individual and group coaching to Executive Team members to enhance leadership capacity and improve communications amongst the team
- Designed and facilitated 2-day strategic planning retreat to discuss the Company’s key challenges, determine its strategic objectives, establish a “One MRS” Mission, and enhance relationships and trust with everyone
- Facilitated initial family business succession planning workshop with 3 majority shareholders to help them develop a business succession plan and more fully integrate their next-generation children into the business
- Established Family Council and drafted a Family Charter to capture the family’s Mission and values along with key principles for ownership and employment
- Designed and facilitated 1st annual family retreat to review the charter with outside family members and discuss how best to engage the Next-Generation minority shareholders and their parents in the business Key Business Results:
- Facilitated highly effective and interactive Leadership Team offsite to develop the Company’s strategic plan for the next 3 years
- Prepared a Family Business Charter and facilitated an incredibly successful family retreat to begin integrating the 4th generation into their business
- Enabled this family with their rich multi-generational heritage and values to articulate their vision and commitments for the future and fulfill their calling by securing their legacy with the family and their business
