Steinbeck Family Business Seminar

The Steinbeck Family Business Seminar

Family Governance and Relationships

Focus on strengthening the family enterprise and how to navigate business and family issues successfully

October 23 - 24, 2015

Korn Convocation Hall
UCLA Anderson School of Managemnt


Friday, October 23, 2015

8:30 - 9:15 a.m. Breakfast \ Welcome
9:15 - 9:40 a.m. Introduction \ Jay Steinbeck
9:40 - 10:30 a.m. Overview \ Family Business

Alfred E. Osborne, Jr. \ Senior Associate Dean and Professor, UCLA Anderson School of Management

Family and closely held businesses can be problematic and present both opportunities and challenges to owners, managers and the family. What conceptual frameworks exist to address these issues and align these stakeholders given the economic reality of the business enterprise?

10:30 - 10:45 a.m. Break
10:45 a.m. - 12:00 p.m. Expert Panel

Jeffer Mangels Butler & Mitchell LLP
Moderator: Eric Sussman \ Senior Lecturer in Accounting

12:00 - 1:30 p.m. Lunch and Speakers \ Entrepreneurship

Bill Keith \ CEO and Co-Founder, Perfect Bar
Leigh Keith \ COO and Co-Founder, Perfect Bar
Moderator: Holly Han \ Director, Special Projects and Steinbeck family Business Seminar

It all started with their beloved dad, Dr. Bud Keith, a nutritionist who worked with Jack LaLanne to help change the way people viewed health and fitness. Bud played with recipes and ground up a bunch of dried fruit and vegetables, mixed with freshly ground organic peanut butter and honey, to feed the family a healthy meal they could eat on the go. In 2005, Bud became ill with skin cancer, and the family had grown to 13 kids, so the eldest siblings turned the family recipe into a business.

1:30 - 4:45 p.m. Discussion and Case \ Conflict management

Corinne Bendersky \ Associate Professor of Management and Organizations, UCLA Anderson School of Management

This session discusses conflict management in the workplace. How do you recognize different types of conflict and develop tools for managing conflict? What are some of the best ways to resolve these issues? Case includes a role play activity and a discussion of possible solutions. Participants will have an opportunity to ask about conflicts they may be dealing with at their own businesses.

3:45 - 4:00 p.m. Break
4:15 - 5:30 p.m. Discussion and Case \ Compensation

Bertha Masuda \ Partner and Co-founder, Vivient Consulting

Compensation experts will discuss a sample case from a family business and address important issues. What should be the process for making executive compensation decisions? How does compensation evolve as leadership transitions from one generation to the next? What is the appropriate pay for shareholders who actively manage the business versus those who only work part-time or not at all? What is the appropriate return to shareholders and to what extent does top management share in the financial success?

6:00 p.m. Wrap-up and Social

Saturday, October 24, 2015

8:30 - 9:15 a.m. Breakfast
9:15 - 12:30 p.m. Lecture and Case Studies \ Negotiation

Miguel M. Unzueta \ Associate Professor, Management and Organizations, UCLA Anderson School of Management

Negotiating a contract can be difficult; traditional situations including bidding, selling real estate, settling legal disputes, mergers and acquisitions. First, we will abstract from some of the contextual detail to reveal the strategic essence common to a larger class of problems. Then, we will engage in two simulated negotiation exercises designed to emphasize a family shareholder buyout.

10:30 - 10:45 a.m. Break
12:30 - 1:45 p.m. Lunch and Speaker \ Innovation

Jim Mizes ‘80 \ President & COO, Blaze Pizza

Rick and his wife Elise Wetzel, founders of Wetzel's pretzels, went looking for a fast-casual pizza chain and came up empty-handed, so they, along with executive chef Bradford Kent, created Blaze Pizza in 2012. The brand opened 50 restaurants across the country in 2014. This year, it is opening a new location every five days. Customers build pizzas choosing from seven cheeses, eight proteins, 20 vegetables, and three sauces. The pizzas are then placed in a stone hearth oven and are ready in three minutes.

1:45 - 3:15 p.m. Panel \ Business Owner Panel

Only 30% of family businesses make it to the second generation and 10-15% survive into the third. Why? A business needs to keep moving forward or it dies, and families don’t always innovate. How do these families keep their business fresh and how do generational perspectives come into play?

(invited) Marc Canter \ Owner, Canters Deli
(invited) Elizabeth An \ Founder, Crustacean and AnQi
Hannah An

3:15 - 3:30 p.m. Break
3:30 - 4:45 p.m. Expert Panel

City National Bank
Marsh & McLennan Companies
Moderator: Bill Cockrum \ Adjunct Professor of Finance

4:45 - 5:30 p.m. Summary \ Takeaways

Alfred E. Osborne, Jr. \ Senior Associate Dean and Professor, UCLA Anderson School of Management

5:30 p.m. Conclusion \ Closing Ceremony and Certificate Presentation

Reception \ Hors d'oeuvres