Family Business: Protocol, Governance and Succession Planning
Family Business: The concept of a family enterprise is determined by the family as the substratum of the venture. Its characteristics arise from the presence and participation of a family group in the property layer and in the controlling decision-making bodies of the organization. A third feature is the attribute of a natural inclination to ensure the continuity of the family business. The aim of survival is the most visible weakness, since the lack of a well-suited legal framework means the family must face the main challenge with the assistance of standard organizational tools provided by the legal framework.
Family bonds contribute to a strong sense of motivation and involvement, which translates into high profitability and a solid advantage:...