Honor for Family Enterprises
FOR FAMILY BUSINESSES
“Perfection is not attainable, but if we chase perfection we can catch excellence”
At the core of family businesses’ long term success there are two conditions: resilient families, and sustainable businesses. What and/or who makes families able to thrive throughout life’s events? What makes businesses successful? The GA FAB Honoration is the opportunity to share the best initiatives that contribute to the enduring accomplishments in our community. Hence three categories:
RESILIENT FAMILY HONOR
The RESILIENT FAMILY HONOR aims at celebrating how families strive over time and, if needed are able to bounce back from adversities.
EXAMPLES OF WHAT WE HONOR
- “Unsung family heroes” who devoted their lives to keep the family together and stronger through the ups and downs of family events; Adherence to family values and culture, Demonstrable stewardship; A Positive Family-Business Linkage
- Initiatives that families have put in place that helped them to keep growing together over time; Found a unique solution to a complex challenge
- Examples of how to grow responsible next generation
- Proper engagement of shareholders; Actively worked to build connections and create a shared purpose and show a high level of trust, unity and developed personal relationships
SUSTAINABLE BUSINESS HONOR
The SUSTAINABLE BUSINESS HONOR aims at celebrating innovative and sustainability practices that work towards the longer-term benefit of all of an organization’s stakeholders – the broader community.
EXAMPLES OF WHAT WE HONOR
- Innovation in product development, business processes, human resources practices, compensation incentive.
- Generous and equitable treatment of employees, scrupulously fair dealings with customers, a focus on occupational health and security, charitable contributions to the community, and/or other examples of positive impact on the community, minimizing the ecological footprint, producing excellent products, and pursuing fair long term returns for all stakeholders.
LEGACY HONORThe LEGACY HONOR aims at celebrating family enterprises that have been in business for a minimum of 100 years, with the intention to bequeath over multiple generations their legacy.
For family businesses to be considered for the Honoration, top-line requirements must be met regardless of category:
- Family involvement must be in at least its second generation, it is fine to be in current transition
- Family must control at least 25% of the company’s voting rights
- The business must be headquartered in Georgia
EXTRA REQUIREMENT for the LEGACY HONORATION: in addition to the one above, candidates must be:
- In business for at least 100 years