A family constitution is a formal document that outlines the rights, values, res

A family constitution is a formal document that outlines the rights, values, responsibilities, and rules that apply to stakeholders in a family business and establishes plans and structures for resolving issues that arise during the operation of the business.
You are encouraged to use your own family business and for those that do not have one- you are encouraged to identify one and seek to address the following aspects as you draft a family constitution. For those with a family business, this will give you a chance to integrate and get an in-depth understand of your family business. For those that do not have a FB, it will allow you to get the skills on the intricacies of what is involved in designing a Family Constitution
To that end, find a list of questions that will guide the draft of your family constitution- In addition, you are required to provide an analysis of what the responses mean for your family business. The ask is that you prepare an in-depth set of recommendations based on the detailed responses you get in form of a 3000-word report. You are encouraged to use an appendix. Use the questions below to guide how you adopt a family constitution as well as recommendations on what to do within the FB.   
Should the business always be owned by the family?
In what circumstances would sale, or external investment, be considered?
At what point in the future might that be considered appropriate?
Is the family currently united in the vision for the future?
When should family members be able to realize their interest in the business?
What restrictions should be imposed on the realization or withdrawal of business interests?
What criteria for the employment of family members might be appropriate?
How should the next generations engage with the family business and the wealth structures?
Should younger family members be mentored in the family governance processes?
What criteria should the mentors have to carry out the role?
How should the family governance processes operate, and who should lead?
What are the criteria for leadership and when should it change?
If there is a board, should family members always represent the majority?
Where family members are spread geographically, how should the family governance processes deal with this?
Should leadership of the family structures rotate through the family branches, or rotate geographically or consistently with the principal locations of the family’s wealth?
Should non-family members, or trusted advisers, be involved in certain processes, and if so when? Should family members have the right to involve their own trusted advisers on specific issues?
In what circumstances and over what timeframe should the family contemplate a fundamental repositioning of the ethos and principles of the family and the family business?
ACADEMIC INTEGRITY
Any work submitted by a student in this course for academic credit must be the student’s own work. If you present, as your own idea, any material copied, paraphrased, or extensively drawn upon, you are plagiarizing—unless you give full citations for your sources. Of course, you may make full use of ideas, arguments, and information obtained from books etc. but you must make clear which portion of your paper is not your own and provide a detailed reference to the original source.
Assignments that violate Hult’s Honor code may not be revised. In the first instance of plagiarism, the plagiarized assessment will be given a grade of zero and will result in automatic Disciplinary Probation. You may also be required to rewrite the plagiarized assignment for no additional credit.
Subsequent violations of the Honor Code are assessed on a case by case basis before the Academic Standards Committee and may result in sanctions up to and including dismissal from the program.
You are responsible for ensuring that you have read and understood the section entitled “Academic Integrity” in the Student Handbook. If you have any questions about that material, please speak to your instructor.
INSTRUCTIONS FOR THE REPORT
3000 words (±10%)
This word count is for the BODY of the assignment and does NOT include obligatory:
Header page
Executive summary
Contents page
Appendices (optional – but likely to be needed)
References and Bibliography.
Report Structure:
You are expected to include the following sections:
Title page
Executive summary (separate page)
Contents Page
Body (3000 words ±10% ) ….
Introduction
Address the fundamentals as per the task above
Conclusion Recommendations
Appendices (Optional)
References
Glossary (if needed)
Additional specifications
Your Title Page should include:
Your name,
Course and Cohort
Professor
Title of your report
Assignment name
Date
Number of words
Your report should have page numbers
Your contents page should indicate all sections and sub-sections and their page numbers.
Please make sure you include screengrabs of the web pages and charts showing the analytics.
Appendices are optional. But if you use an appendix, make it a self-contained section…do not simply put a diagram there.
Your References page should show all the sources you have cited in the report.
Copying and pasting of text are strictly forbidden. If you think you need to use a direct quote, ensure it is important that we have the words of the person concerned and you must cite them appropriately. It is usually unlikely that someone needs to be quoted directly in a report of this nature, so far better that you incorporate their thoughts and ideas into your own text and contrast them with other opinions. Reference the thoughts and ideas
Rubric
Rubric Family Constitution
Rubric Family Constitution
Criteria    Ratings    Pts
This criterion is linked to a Learning OutcomeAnalytical skills I: Thought-process/understanding of key frameworks and theories
20 pts
This criterion is linked to a Learning OutcomeAnalytical skills II: Contextualization
15 pts
This criterion is linked to a Learning OutcomeAnalytical skills III: interview skills
25 pts
This criterion is linked to a Learning OutcomeEvaluation & Recommendations
25 pts
This criterion is linked to a Learning OutcomeReferences & Citations
5 pts
This criterion is linked to a Learning OutcomePaper structure and organization, and ability to convey key messages clearly and persuasively
10 pts
Total Points: 100

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