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A closer look Family Businesses, Family Dynamics, and Governance
May 13, 2019
- While most family business owners hope to pass their business on to their children and succeeding generations, many do not manage the transition successfully.
- The specific reasons for these failures are often unique to each family, but they can typically be traced back to the interaction of family dynamics and business dynamics.
- Effective family governance can help improve family dynamics and increase the odds of a successful generational transition.