Family firms are the backbone of many economies worldwide, contributing significantly to employment and economic growth. However, alongside their successes, they often face unique challenges, one of the most prevalent being conflicts within the family. These conflicts can escalate and jeopardise the business and family relationships if not addressed. Understanding the dynamics of conflict in family firms and implementing effective strategies to manage them is crucial for thei

Mahatma Gandhi said that “Honest differences are often a healthy sign of progress” whilst M. Scott Peck observed that “Life is a series of problems.” A more accurate statement was never made. But when it comes to solving them it’s important to realize that not all problems are created equal. All our difficulties fall somewhere on a spectrum; at one end of this spectrum we find routine problems, and, at the other end, adaptive challenges. A routine problem isn’t considered ro

“Corporate culture” is a buzz phrase that’s been going around for over a decade now, though the actual meaning behind this hot topic is...

A family constitution is a confidential family document outlining their vision and agreement on ownership and management of the business....

This legacy article covers how a business family legacy does not only serve as a thought garden, an oasis of wisdom for the family, their...

So how do families ensure that the next generation has that spark? Recent research suggests that, perhaps surprisingly, story-telling...