When the only tie that binds a family together is sharing business ownership, chances are the Family Enterprise will struggle to remain family-owned and intact for successive generations. However, when the family and the Family Enterprise are mutually supportive, the opportunity for sustainability is greatly enhanced. By taking a family-centric approach and applying a “Family Accord” framework—one that is based on structure, communication, and consensus—families can enjoy far greater odds of long-term success with their Family Enterprise.
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50 Best Practices for an Enduring Family Enterprise
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Recognizing that enterprise families are unique, this research report provides the 50 best practices across 10 important aspects—from family governance to family learning and measures of success—that have the greatest impact on long-term sustainability of families of wealth across generations.