The AGES Review

Developed by ACFB researchers from studies of successful family businesses, the AGES Review process provides a family business with a detailed objective assessment of, and insights into, business and family integration. From the assessment, recommendations are distilled and appropriate intervention options can be designed.

The Framework

The AGES Review process builds on four inter-related platforms:

• Architecture – Structures and systems
• Governance - Business and family governance
• Entrepreneurship  – Entrepreneurial leadership and strategy
• Stewardship – Individuals’ behaviour and firm level culture

The Process

Though an AGES Review can be tailored to the needs and specifications of each family business, generally, the process is structured as follows:

• An initial consultation by ACFB research consultants with family leadership to identify family and business needs, issues, and areas of concern.
• ACFB research consultants interview family business stakeholders using semi-structured interview questions related to AGES framework.
• Appropriate secondary data reviewed
• Data is analysed and main themes identified
• Recommendations are formulated and a report is written
• ACFB research consultants present the AGES Review to the family business stakeholders
• Family discuss the findings openly and choose to take action (or not) based on the recommendations
• (Optional) ACFB research consultants facilitate meeting with family business stakeholders to discuss recommendations in detail and possible roll out options

The Cost

The cost of an AGES Review is dependent on the number of interviews conducted and whether or not a survey is also required to gauge specific to the firm issues, for example, communication climate or employee engagement. As an indication, a comprehensive review and report compiled from semi-structured interviews with up to 10 stakeholders would cost in the vicinity of $7,500 (plus GST).

Beneficiary: The ACFB Research Program

The majority of the funds received from an AGES Review go towards the ACFB research program. Since inception in 1994 the ACFB has developed into a significant international presence and are widely lauded for their family business research and teaching. ACFB faculty research has been published in leading academic journals and ACFB faculty regular present their research at the world’s leading research forums.