In many family businesses, the main shareholders also serve on the board of directors. It makes sense. They know the company’s history, bring the owners’ perspective, feel personally invested in the business and have a clear interest in its continuity. But being logical doesn’t mean being free of risk. In this article, we’ll examine both […]
Heterogeneity in family businesses: 5 key concepts
Family businesses are the backbone of many local and global economies as drivers of both employment and economic stability. However, categorizing them as a single, uniform group limits our understanding of the numerous complexities and nuances among them. Far from a homogeneous collective, family-owned firms can differ in fundamental ways that shape their governance, strategic […]