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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