Tag: family business advice

Why Do We Treat Strangers Better Than Family Members?

A big relationship problem can affect not only family businesses, but also our personal lives: We often treat friends, acquaintances, and even strangers better than our own family members. In this Read more

How to Encourage Devotion Among Nonfamily Employees

Every business strives to recruit and hire the best employees and to retain them over time. Creating and nurturing a workplace environment that contributes to productivity and helps the firm achieve Read more

Women on Family Business Boards Shun Layoffs

Modern organizations face increasing pressure to make sure women are well represented in their workforce, especially at the top. Business leaders, stakeholders, and policymakers around the world are Read more

Why Women CEOs Offer Family Businesses an Entrepreneurial Advantage

A CEO who supports entrepreneurship is important to both family and nonfamily business success. However, the need to remain entrepreneurial is especially important for family businesses because their Read more

Family Firms May Need More Legal Advice Than They Think

Families are often reluctant to anticipate and plan for the day when an unexpected transition might upend their business. The costs of inaction are high. EDITOR'S NOTE: This article was produced in Read more

How to Defuse and Recover From Family Business Conflict

The emotional conflicts that beset family businesses can be difficult to weather. Heidi Vermeer-Quist, a clinical psychologist, family business consultant, and third-generation shareholder of her Read more

Better Let Your Brother Do It: Men Are Still Preferred in CEO Successions

Many business owners do not like to think about succession – it means confronting their own mortality – but at some point, every family business must deal with succession planning (Ahrens, 2020). Read more

Unforeseen Crisis Made These Family Businesses Stronger

Pandemics, wars, and natural disasters can have a significant impact on the economy and its organizations. Such events are called “exogenous shocks” because they come without warning from the Read more

Perceptions of Family Firms Vary by Country: Why This Matters

Firms that signal they are family-run are usually seen as better quality and enjoy higher levels of trust, except in places like India where they're everywhere. EDITOR'S NOTE: This article was Read more

When the Family Leaves the Business, Can Their Values Remain?

Researchers explored how the Cadbury family’s Quaker values, which prioritized honesty and fairness, have endured even after the confectioner was sold to Kraft. EDITOR'S NOTE: This article was Read more