Advice for Non-Family Executives in Family Businesses

Advice for Non-Family Executives in Family Businesses
Published: January 18, 2017
Updated: October 9, 2019
Views: 14394
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Ritch Sorenson, Professor of Family Business at the University of St Thomas in Minneapolis, once worked at a bank founded by his grandfather.  When it closed, he felt a personal loss that persists many years later. Likewise, families who own and run a business often feel a deep connection to their communities, business partners, employees and one another. This can create challenges for outsiders who are hired to help the family business weather financial and competitive pressures, now and in the future. In this discussion, Sorenson shares his insights about how non-family executives can navigate complex family dynamics, help the business thrive financially, develop strategies for the future and groom the next generation of leaders.

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Ritch Sorenson
Ritch Sorenson
Opus Chair in Family Business / School of Entrepreneurship / University of St. Thomas
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Cite this Article
DOI: 10.17919/X9P88G
Sorenson, Ritch. "Advice for Non-Family Executives in Family Businesses." FamilyBusiness.org. 18 Jan. 2017. Web 22 Jun. 2024 <https://familybusiness.org/content/advice-for-non-family-executives-in-family-busin>.
Sorenson, R. (2017, January 18). Advice for non-family executives in family businesses. FamilyBusiness.org. Retrieved June 22, 2024, from https://familybusiness.org/content/advice-for-non-family-executives-in-family-busin