· Difficulty in the managing a family business occurs when there is clash between family values (harmony, emotional, inward, continuity) and business values (profits, rational, outward, adapt, change)
· Managing transformation is not easy...
Power and politics in a business
It is important
to evaluate and understand the structure of the family business and how was it
developed. How is the relationship shared between various owners, what is the
history of the business, how it evolved over period. It is critical to
understand...
Importance of constitution in a family business setting
The importance of family governance in today's age is extremely critical. I myself have seen families
drifting apart because of business conflict resulting due to poor set-up of
constitutional rules. I have seen families fighting over compensation,
ownership,...