A family business is a commercial organization in which decision-making is influenced by multiple generations of a family—related by blood or marriage—who are closely identified with the firm through leadership or ownership. Owner-manager entrepreneurial firms are not considered to be family businesses because they lack the multigenerational dimension and family influence that create the unique dynamics and relationships of family businesses.(wikipedia)
In U.S. business, the most successful executives are often men who have built their own companies. Ironically, their very success frequently brings to them and members of their families personal problems of an intensity rarely encountered by professional managers. And these problems make family businesses possibly the most difficult to operate. (hbr.org)
What are the problems in family business. What are the solutions?
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