Family firms account for an estimated two-thirds of the overall businesses worldwide. An assessment tool helps them judge how vulnerable they are.
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Having outsiders on the board could make CEOs more reticent to share critical information about finances, marketing position, strategy and efficiency.
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This video, also available as a podcast, explores how family businesses are balancing cherished traditions and social capital against the mandate to control costs at a time of economic peril.
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Both relatives and non-relatives should feel happy, secure and “part of the family” without getting so complacent that they don’t challenge the status quo.
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The family history of the acclaimed Manchester-based restaurant Sweet Mandarin, recounted in the owner's book, builds strong ties with customers and other stakeholders.
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Legacies of great family businesses involve our senses of touch, sight, sound, taste and smell -- all embedded in our experiences with their most iconic artifacts.
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Even as more women step into leadership roles at family firms, long-held attitudes and practices may prevent the business from realizing all the benefits they can bring.
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Feuds, deception and bad behavior can undermine your brand and your family's image. Here are four types of scandals and some notorious examples.
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