Stewarding businesses into institutions
In light of the many crises that haunt the daily news cycle, there is one segment of the corporate landscape that seems to be weathering the storm better than most: family businesses.
In light of the many crises that haunt the daily news cycle, there is one segment of the corporate landscape that seems to be weathering the storm better than most: family businesses.
Dr Katherine Grady and Dr Wendy Ulaszek discuss Family Owners Councils and their importance supporting family business continuity.
The creation of a Family Council is one way to restore balance between business and family life.
Business, ownership and family issues are intertwined in a way that is going to get very complicated.
There are three specific critical challenges that Chinese family enterprises will have to meet and resolve.
Studying the response of family enterprise systems to chronic market dysfunction and elevated risk can provide useful insights into organizational resilience.
Many family businesses have a problem with recruitment into governance roles, and the family labor pool is a critical issue.
Over the past three decades, many business families have formed a Council. The oldest Councils have started asking “What do we do now?”
What have we learned about efficient (and less anxiety-raising) ways to apply the family’s human capital over time?
A very small part of the academic research on governance has taken into account family ownership and the special nature of family firm governance.