Family Accord: Best Practices for the Family Enterprise Start with the Family

Overview

The survival of the Family Enterprise across generations requires not only negotiating business risks in an increasingly competitive global landscape, but also managing the possible rifts attributable to shared ownership and identity by a single family. Even the most successful Family Enterprises can be devastated by the complexities and challenges that arise at the dynamic but turbulent interface between the family and the business. However, when the family and the Family Enterprise are mutually supportive, the opportunity for sustainability is greatly enhanced. In recent years, the focus of successfully perpetuating the Family Enterprise to future generations has widened to include a more family-centric view.

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