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Management & Leadership vocabulary · Corporate Governance

Family council

Meaning in management & leadership, with examples

nounAdvanced term

In management & leadership, family council means: A forum through which members of a business-owning family discuss shared family interests and their relationship with the business.

In Turkish: aile konseyi

How it is used

Use in family-business governance; a family council is distinct from the company's board of directors.

Example sentences

  1. The family council discussed how younger relatives could learn about the business.

    The forum addresses the family's relationship with the enterprise.

  2. The family council shared its concerns with the board but did not run daily operations.

    Family discussion is distinguished from formal corporate management.

Common collocations

  • establish a family council
  • family council meeting
  • 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.
  • 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.

More terms: Corporate Governance

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