Family business is the oldest and most common model of economic organization. The vast majority of businesses throughout the world—from corner shops to multinational publicly listed organizations with … See more

A genogram is an organization chart for the family. It is an enhanced family tree that shows not only family events like births and deaths, but also indicates the relationships (close, conflicted, cut-off, etc.) among individuals in the family. It is a useful tool for … See more

Fairness is a fundamental issue in family business decision-making. Solutions that are perceived as fair by the family and business stakeholders are more likely to be accepted and supported. Fair process helps create organizational justice by engaging family … See more

The interests of the entire family may not be balanced with the interests of their business. For example, if a family needs its business to … See more

The challenge for business families is that family, ownership and business roles involve different and sometimes conflicting values, goals, and … See more

All businesses require planning, but business families face the additional planning task of balancing family and business demands. … See more

The challenge faced by family businesses and their stakeholders, is to recognise the issues that they face, understand how to develop strategies … See more