Steinbeck Family Business Seminar

The Steinbeck Family Business Seminar
THEME: Family Governance and Dynamics - Spring 2016

The Steinbeck Family Business Seminar focuses on leading effective and profitable family-owned (or otherwise closely held) businesses. Gain access to our world-class faculty, experienced business advisors and other family business owners in a collaborative, small group setting. Through lectures, interactive sessions and case studies, attendees are able to enhance their leadership, management and governance capabilities. The content of each seminar is unique; we encourage participants to attend frequently and develop a peer network of fellow family business owners.

Friday, April 29, 2016
Saturday, April 30, 2016


Friday, April 29, 2016

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

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

Bill Cockrum \ Adjunct Professor of Finance 
Nish Jain
 \ Director, Corporate Finance US Technology, KPMG  
Mark Tizabgar
\ Managing Director, Mergers & Acquisition, KPMG 
Moderator: Eric Sussman \ Senior Lecturer in Accounting

How does liquidity impact your business? It matters for financing your growth and determining the optimal capital structure. Find out what to keep in mind for planning your exit and succession.

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

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. Brother and sister Bill and Leigh Keith will share the Perfect Bar story in this interactive session.

1:30 - 3:45 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 family business. How do executives recognize and develop tools for managing conflict? What are some of the best approaches to resolve conflict in the workplace? The case includes a role play activity and a discussion of possible solutions. Participants will have an opportunity to ask about conflicts with which they may be dealing with in their own businesses.

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

Sue Schroeder \ Partner and Co-founder, Vivient Consulting

Using a real-life case study and an interactive format, the session will cover how a growing multi-generational family business addressed challenging compensation issues such as: What should be used to make executive compensation decisions? How does compensation evolve as leadership of the family business transitions from one generation to the next? What is the appropriate pay for shareholders who are active managers in the business versus those who only work part-time or not at all? How is the appropriate return to shareholders determined and to what extent does top management share in the financial results? Brief reading materials will be sent ahead of the session to facilitate the discussion.

5:30 p.m. RECEPTION

Saturday, April 30, 2016

8:30 - 9:15 a.m. Breakfast
9:15 - 12:30 p.m.
10:30 - 10:45a.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, whether you are bidding on or selling real estate, settling legal disputes, or executing mergers and acquisitions. For this session, we will abstract from some of the contextual detail to reveal the strategic essence common to a larger class of problems that are common to many negotiations. Then, we will engage in two simulated negotiation exercises designed to emphasize a family shareholder buyout.

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

Raul Porto \ President and Owner, Porto's Bakery

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

Only 30% of family businesses make it to the second generation and even fewer than 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? This panel will share insights from their families. 

Hannah An \ Founder and CEO, The District
Randy Briley \ Former family business owner of Incotec

Moderator: Tim Lappen \ Founder & Chairman, Family Office Group, Jeffer Mangels Butler & Mitchell LLP

3:15 - 3:30 p.m. Break

Aaron Dyer \ Senior Vice President, City National Bank
Peter Soh \ Principal, Advise LLP 
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




Seminar candidates should be owners and C-level executives of family and closely-held businesses, or select family members, as appropriate. Companies should have a minimum of $5 million in topline revenue. There is a preference for operating companies, preferably in manufacturing, construction, distribution and retail. Businesses such as food services or health care providers (other than professional service providers) are encouraged to attend.



The discounted rate of $295 is for each participant. Current MBA students and UCLA may alumni qualify for additional discounts. Please call (310) 825-6368 for details. Each enterprise may have up to three participants. The special rate is made possible by the Steinbeck Family Business Endowment and our sponsors.



Graduates of the seminar will receive a certificate as well as five hours of complimentary consultation from the family business experts that sponsor the seminar.



We welcome your questions. Please email or call (310) 825-6368.

Presented by the UCLA Price Center in association with the Steinbeck Family Business endowment and sponsors.



The Steinbeck Family Business Seminar has been made possible through the generous support of Jay Steinbeck and our sponsors, City National Bank, Jeffer Mangels Butler & Mitchell LLP, KPMG and Marsh & McLennan Companies.