Emeritus Professor of Management / Coles College of Business Kennesaw State University / Generation6 | Family Enterprise Advisors and ,Jönköping University (CeFEO)
The next generation of owners is crucial to the family firm's survival. The process of getting them ready and instilling the right attitudes should start early.
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The board must balance the interests of family and business, and help build and preserve commitment and continuity when tough decisions must be made.
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Want your family business to run more smoothly? Examine your own relationships with parents, siblings and other relatives -- and talk to one another often.
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A year ago nobody saw a pandemic coming. What we've learned: a dash of "productive paranoia" will help family business leadership anticipate future threats.
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Independent directors hold others accountable and encourage change even when firmly entrenched relationships or operating philosophies make it seem impossible.
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Boards are there to help you be more successful. Here's more advice on how family business leaders can harness their board's full potential.
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How can leaders keep themselves from getting worn down or recognize burnout in themselves? And what should family members do if they see their leader struggling?
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Families differ in their willingness to integrate outsiders into their family circle, but be careful: these actions influence the included or excluded individuals in different ways.
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