What is a family business?
A family firm can take many forms, from a husband-wife partnership to a multi-generational business. Generally, it is a company where the family has controlling interest in the firm, where one or more family members work in the company, and where the family expects to continue its management/control of the business into the next generation.
What is the purpose of a family business institute?
Family business centers exist in many universities across the United States and around the world. While family business only recently became recognized as a distinct area of academic study in the early 1980s and it has long been recognized as an important and historical form of business ownership.
Who is eligible join?
- Membership in the Institute is open to established family businesses provided that:
- The family has controlling interest in the firm;
- One or more family members work in the company;
- The family expects to continue its management and/or control of the business.
What are the benefits of membership?
- Access to a range of educational and training programs
- Participation in regional workshops and meetings designed to provide local information and support to family businesses
- Membership in a regional network of family business owners which provides opportunities for strategic alliances and the exchange of ideas and solutions
- Ability to participate in national family business research studies
Who would benefit from attending FOBI events?
- First, second or third generation owners of a family firm
- Member of the next generation who is planning to one day take over the family firm
- Advisers to one or more family firms
- Management team members who are not members of the owning family
Why should I join?
The Family-Owned Business Institute at The University of Tulsa provides a forum for the development and dissemination of information relevant to the succession and stability of the family business. The Institute offers educational programs to promote effective family business management, to strengthen the health of family relationships, to disseminate relevant information and to create a network for family business members.
The goal of the Institute is to promote the recognition of the economic significance of the family business sector and to provide a voice in society for family-owned businesses. If you are a family business owner who cares about the long-term success of your business as well as the role that family businesses play in preserving particular family and business values, then you need to participate in this dynamic learning community.
How much does it cost to join?
The annual cost of membership is $360.00 per year for two individuals associated with the company to attend all of the events, at no additional costs for meals or registration. Additional annual memberships are available for $140 each. Renewal is on an anniversary date basis. The same two people do not have to attend all of the events. A family business owner may attend with a family member or a member of the company who would benefit from the topic being discussed.
How often do you meet?
The Institute hosts between eight and ten events each year.
What types of events does the institute sponsor?
The institute hosts a variety of learning opportunities that include nationally known guest speakers and roundtable discussions that give members an opportunity to learn best practices from one another. The underlying goal is to focus on topics that are of interest to family firms and are often unique to family firms. Topics can range from estate and succession planning, family compensation and sibling rivalry to family policy guides, family governance and creating a fun and productive company culture. The institute also hosts social activities that allow members to interact in a more relaxed and festive setting.
How do I become a member?
Anyone interested in joining FOBI is encouraged to attend an event to experience, first hand, what the Institute has to offer. We are so certain that you will benefit from the experience that you will choose to immediately join. To find out about upcoming events or to register for an event, call Claire Cornell at 918-631-2684 or email her at email@example.com.
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