Managing for Today and Tomorrow
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Transcript of Managing for Today and Tomorrow
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Managing for Today and TomorrowSuccession, Business, Estate, and Retirement Planning for Farm and Ranch Women
Succession Planning Part One
Communication Barriers
Managing for Today and Tomorrow
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Managing for Today and TomorrowSuccession, Business, Estate, and Retirement Planning for Farm and Ranch Women
What are Your Barriers to Communication?
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Managing for Today and TomorrowSuccession, Business, Estate, and Retirement Planning for Farm and Ranch Women
Common Barriers to Communication
• Lack of role separation• Not an easy topic to discuss• Noise and Stress• Off-farm heirs and on-farm heirs• Generational differences• Personality differences• Gender differences
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Managing for Today and TomorrowSuccession, Business, Estate, and Retirement Planning for Farm and Ranch Women
A Simple Case of Role Separation• Dad has breakfast
with the family (family)
• Dad drives to work (business)
• Dad plays a game of softball after work (personal)
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Managing for Today and TomorrowSuccession, Business, Estate, and Retirement Planning for Farm and Ranch Women
Lack of Role Separation• Dad has breakfast with
family, takes 2 phone calls (family and business)
• Meets with neighbor/ landlord/hunting friend after breakfast (business and personal)
• Has noon meal with his 70 year old parents/ landlords (family and business)
• Teaches daughter how to operate new combine (business and family)
• Attends 4-H meeting with son in evening as advisor of small engine projects (family, personal and business)
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Managing for Today and TomorrowSuccession, Business, Estate, and Retirement Planning for Farm and Ranch Women
Not An Easy Topic to Discuss• Money• Management • Family differences• Job competency• Disappointments• New Ideas• Hopes for the future• Risk
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Managing for Today and TomorrowSuccession, Business, Estate, and Retirement Planning for Farm and Ranch Women
Message Effect
CommunicationChannel
Encodes
Decodes
SENDER
Decodes
Encodes
RECEIVER
Feedback
Message
Noise
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Managing for Today and TomorrowSuccession, Business, Estate, and Retirement Planning for Farm and Ranch Women
Off-farm Heirs and On-farm Heirs• Off-farm heirs may only get bits and pieces of what is
happening within the farm business and begin to draw their own realities.
• They often have a very different perception of what it takes to run a farm based on their childhood memories of working along side Mom and Dad.
• On-farm heirs may over value their time and inputs to the farm and expect more than what others think they should have.
• Big issues: knowledge and perception of fair versus equal.
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Managing for Today and TomorrowSuccession, Business, Estate, and Retirement Planning for Farm and Ranch Women
Age Year Titles
65 + 1922 to1945
Veterans(silent, traditionalists, hard workers, formal
communication style, deliberate, no news is good news)
46 - 64 1946 to 1964
Baby Boomers(workaholics, face-to-face communication, diplomatic,
need to feel valued )
31 – 45 1965 to 1980
Generation Xers(entrepreneurs, work life balance, direct &
immediate communication-blunt)
1 - 30 1981 to Present
Nexters(millennials, entrepreneurs, multitasking, work
life balance, communicate through technology)
Generational Definitions
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Managing for Today and TomorrowSuccession, Business, Estate, and Retirement Planning for Farm and Ranch Women
Personality and Gender Differences
• Communication style• Listening style• How individuals deal with communication
barriers• Working as a part of a team• What is important to an individual
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Managing for Today and TomorrowSuccession, Business, Estate, and Retirement Planning for Farm and Ranch Women
Patrick Penny
PerryPam
Say NO to Secrecy!
Perry, Jr.Pete
Paul
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Managing for Today and TomorrowSuccession, Business, Estate, and Retirement Planning for Farm and Ranch Women
How can we improve family business communication?