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Management & Leadership vocabulary · Corporate Governance

Family constitution

Meaning in management & leadership, with examples

nounAdvanced term

In management & leadership, family constitution means: A written statement of a business-owning family's agreed values, principles and arrangements for its relationship with the business.

In Turkish: aile anayasası

How it is used

Use in family governance; its legal effect depends on its contents and context rather than its title alone.

Example sentences

  1. The family constitution set out expectations about relatives applying for company roles.

    Shared principles help distinguish family membership from employment decisions.

  2. Before the next generation joined, the family constitution was reviewed at a family meeting.

    The document provides a reference for discussing continuity and changing expectations.

Common collocations

  • draft a family constitution
  • review the family constitution
  • succession planningThe process of identifying and preparing people who can take over key roles, especially senior leadership roles, when the current holders leave or retire.
  • corporate governanceThe system of rules, practices and controls by which a company is directed and supervised, especially the relationship between the board, the managers and the shareholders.

More terms: Corporate Governance

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