by | Feb 12, 2018 | Blog, Board Governance, Business, Business Advisory, Family Offices
Now that we have a set of goals for all of your direct reports whose goals are directly in support of your goals, it is a matter of monitoring the progress being made each quarter with everyone. Remember, if someone doesn’t achieve their goals, it could mean that you...
by | Feb 9, 2018 | Blog, Board Governance, Business, Business Advisory
When speaking to someone in an advisory capacity, the subject of managing for successful results always comes up. One of the best ways to manage for successful results is through proper goal setting within a formal incentive system. Goal setting: Where do the goals...
by | Nov 11, 2017 | Blog, Board Governance, Business, Business Advisory, Family Offices, Trust
The second charitable trust Milton Hershey created was the M. S. Hershey Foundation. He created this trust through an Agreement of Trust in 1935. As usual, he named the Hershey Trust Company as the trustee. Its purpose was, and still is, to provide educational and...
by | Oct 23, 2017 | Blog, Board Governance, Business, Business Advisory, Family Offices, Trust
How did Milton S. Hershey close the ownership loop of his business enterprises? Mr. Hershey created three trusts: two during his lifetime and one upon his death. He designated Hershey Trust Company the trustee of the three trusts. Hershey Trust Company is a...
by | Oct 20, 2017 | Blog, Board Governance, Business, Business Advisory
I’ve mentioned before on this site that boards for companies, large or small, can function in one of two ways: smoothly or terribly. It all depends on the members. But sometimes, even if you have some fantastic members, there needs to be an even greater leader helming...
by | Oct 13, 2017 | Blog, Board Governance, Business, Business Advisory
Let’s start with the Hershey Trust Company, a Pennsylvania bank created in 1905, wholly owned by Milton S. Hershey. In 1909, Mr. Hershey created his Deed of Trust. In it, among other things, he put all of his business assets into trust and made the Hershey Trust...