Family Businesses are Different
Posted in Business Transitions, Executive Succession, Family Business, Family Owned Businesses, Organization Dynamics, Organization Strategy, Succession Planning on May 28th, 2009 No Comments »
Family-owned businesses are simply different from other businesses. Up to 90% of a family’s net worth can be tied up there. Family businesses also have two primary and often conflicting priorities – (a) the growth and survival of the business and family assets and (b) the maintenance and survival of family relationships. These conflicts often exacerbate when the economy is tough.
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