Family Governance: The Issues, the Concerns and the Strategies to Deal with Them
Overview
Family businesses that continue to prosper from one generation to the next often do so because they have robust governance structures. Nevertheless, many family businesses have not given enough thought to governance. They rely too much on a carefree attitude toward issues such as succession, ownership and management, and they wait until one of these issues becomes an unavoidable problem before attempting to deal with it. Often, that is too late, and the business will suffer as a result. The author provides some of the more common governance problems that can arise within family businesses and illustrates the issues with case study examples.