Steinbeck Family Business Seminar

The Steinbeck Family Business Seminar

The Steinbeck Family Business Seminar addresses considerations in leading and governing effective and profitable family-owned, or otherwise closely-held, business enterprises. The Seminar is offered each Fall and Spring by the Price Center for Entrepreneurship and Innovation at UCLA Anderson School of Management, and allows business owners and their family members to engage with Anderson's world-class faculty, experienced business advisors and other family business owners in a collaborative, small group setting. The Seminar features lectures, interactive sessions, role plays, case studies and networking that offer family members and non-family executives the opportunity to step away from the day to day demands of their businesses to enhance their leadership, management and governance capabilities as they strengthen their family enterprises. The program content changes with each session, and participants are welcome to attend multiple program offerings. 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.

Family Governance and Relationships - Fall 2015

Friday, October 23, 2015
Saturday, October 24, 2015


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 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

Jim Carreon \ Principal, Mergers & Acquisition Tax, KPMG 
Mihir Jobalia \ Managing Director and Global Head of Technology Corporate Finance, KPMG Corporate Finance  
Tim Lappen\ Founder & Chairman, Family Office Group, Jeffer Mangels Butler & Mitchell LLP 
Moderator: Eric Sussman \ Senior Lecturer in Accounting

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

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 siter Bill and Leigh Keith wwill share the Perfect Bar story in this interactive session.

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 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

Bertha Masuda \ 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.

6:00 p.m. RECEPTION

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, 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.

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

Jim Mizes ‘80 \ President & COO, Blaze Pizza

Four years ago, Rick and his wife, Elise Wetzel, founders of Wetzel's Pretzels, went looking for a fast pizza for lunch.  They went to Chipotle, made a burrito down the line and then said, "Why can't we do this for pizza for lunch?"  The rest is history.  Today, Blaze Pizza is the fastest growing food service brand in the history of food having grown from 2 to 100+ restaurants in less than 3 years. With the country already sold out to 44 franchise partners, international expansion ahead, and a great concept that may be the next great lifestyle brand, come hear "early joiner" Jim Mizes share the Blaze story. 

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 thier families. 

Hannah An \ Founder and CEO, The District
Moderator: Tim Lappen \ Founder & Chairman, Family Office Group, Jeffer Mangels Butler & Mitchell LLP

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

David Park \ Senior Vice President & Head of Business Banking, City National Bank
Jason Woo \ Risk Investment Strategy Advisor, Communications, Media & Technology Practice, 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



The discounted rate of $1,250 is for each participant. Current students and UCLA alumni qualify for additional discounts. Each enterprise may have up to three participants. The special rate is made possible by the Steinbeck Family Business Endowment and our sponsors.