Family firms account for an estimated two-thirds of the overall businesses worldwide. An assessment tool helps them judge how vulnerable they are.
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Having outsiders on the board could make CEOs more reticent to share critical information about finances, marketing position, strategy and efficiency.
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This video, also available as a podcast, explores how family businesses are balancing cherished traditions and social capital against the mandate to control costs at a time of economic peril.
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Both relatives and non-relatives should feel happy, secure and “part of the family” without getting so complacent that they don’t challenge the status quo.
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The family history of the acclaimed London-based restaurant Sweet Mandarin, recounted in the owner's book, builds strong ties with customers and other stakeholders.
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Legacies of great family businesses involve our senses of touch, sight, sound, taste and smell -- all embedded in our experiences with their most iconic artifacts.
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