Although family businesses have been around for hundreds of years and are one of the most prevalent forms of business structures in the world, surprisingly there is no universally accepted definition for them. And this is the problem. To understanding family businesses you must define them clearly and accurately. This book provides a clear and meaningful definition as to what it means to be a family businesses. With a clear and meaningful definition we can then see clear patterns within family businesses of ownership, three different types of family business, and their patterns of succession. This book describes sources of power, three types of succession in family businesses and their recurrent patterns and sources of conflict associated with succession. Lastly this book highlights what family businesses understand and do to achieve long-term generational success.
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