The Family Enterprise Leadership System (FELS)
The family enterprise Leadership System (FELS)
The Family Enterprise Leadership System (FELS) is a revolutionary system to assess and develop the leadership talent of leaders and potential leaders, over time, within the context of any family enterprise.
Created by experts in family enterprise consulting and the technology arena, FELS merges the best intellectual knowledge in the field with the latest innovations in Internet technology, to create a system that provides scientifically rigorous and robust assessment and development tools for leadership performance in a user-friendly and confidential format.
FELS is the result of over ten years of research on the necessary capabilities for enterprise leadership within family structures; the dynamics that affect the development of leadership skills; and the required mechanisms to foster its performance. With it, families not only can assess the leadership performance of individuals within the enterprise and identify potential leaders, but they can also highlight areas of strength and weakness, track their development and institutionalize a process to ensure smooth transitions and continuity of the organization.
How the system works
The Family Enterprise Leadership System (FELS), a 360-degree assessment survey, provides an opportunity for next generation leaders in family enterprises to compare how they perceive their capabilities to how others see them.
Each assessment allows for review by up to 15 stakeholders per person reviewed, and there is no limit placed on the number of people being reviewed concurrently. In addition, the system is designed for multiple uses over time to track leadership progress.
Since FELS is designed specifically for a family enterprise, reviews can be carried out by any stakeholder in the enterprise, regardless of his or her official day-to-day participation in the organization (i.e. an owner who does not work in the family business may be asked to review her cousin who does; or a board member who is a family member may be asked to review an executive who does not have an ownership stake in the enterprise).
The review process can be carried out on an individual basis (one individual reviewed at a specific time) or can be implemented organization-wide, to assess the leadership performance of a number of members of the family enterprise.
Why FELS?
Family enterprises are subject to a number of complex family and business dynamics particular to this type of closely held organization. Its members must attend to multiple stakeholders that encompass many different layers, many more so than in a publicly held enterprise.
In addition, the relationships and dynamics that govern family enterprises tend to be emotionally charged and may not obey objective business criteria.
Therefore, a system to evaluate leadership capabilities and their development, must be developed in a thoughtful and systematic manner and must have objective review and feedback built into the process.
More Information
Please contact us using the short form below to request more information or to schedule a demonstration of FELS.