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Managing The Family Business

The management and structure of a family business can be different to that of a non-family business. What are some of the secrets to successfully managing a family business?
Total 54 articles in this section.
Pages: Previous 1 . [2] . 3 . 4 Next

The Professional Culture In Family Firms

by George Tanewski

The term professional culture is not intended to mean that this type of organization is more professional than the other three but that its cultural pattern is generally found in firms where the owning family decides to turn management of the business over to nonfamily, professional managers.

The Paternalistic Culture In Family Firms

by George Tanewski

In the article, Culture and Continuity in Family Firms, culture was defined as a cumulative set of assumptions that a group holds, and the core of any culture is a pattern of interlocking assumptions that creates a unique belief system. Leaders of family firms use very different assumptions in operating their businesses.

The Participative Culture In Family Firms

by George Tanewski

The third cultural pattern that is sometimes discernible in family businesses is the participative culture. This cultural pattern is relatively rare in family firms and is based on assumptions that vary dramatically from the paternalistic and laissez-faire patterns.

The Laissez-Faire Culture In Family Firms

by George Tanewski

In the article, The Paternalistic Culture in Family Firms, the paternalistic pattern, which is probably the most common culture pattern in family firms, was discussed. In this pattern relationships are arranged hierarchically and leaders retain all power, authority, and make all the key decisions. This article identifies another common cultural pattern among family businesses, the laissez-faire culture.

Professional Management And Family Firms

by George Tanewski

While there is considerable debate regarding what constitutes the role of the professional manager, it is generally agreed that professional managers typically have received formal training in a business school setting in areas such as finance, production, accounting, and human resources/personnel.

Family Foundations

by George Tanewski

Foundations are a remarkable human invention because they provide private persons a freewheeling opportunity to be publicly influential. Without having to meet the tests either of the market or the ballot box, private persons can independently determine what the needs of society are and how best to go about meeting them.

Alternatives For Integrating Professional Management Into The Family Firm

by George Tanewski

This article turns to some alternatives available to family firms to mitigate conflicts and problems attached with the professionalization process.

Problems Of Professionalizing A Family Firm

by George Tanewski

It is argued that considerable problems that accompany the transition to professional management in a family firm can be traced to differences between the training and values of the family and those of the professional managers. This article discusses the problems of professionalizing the family firm.

Family Business And Management Failure - Part 1

by George Tanewski

One of the most pervasive assumptions permeating the body of knowledge about family business is that the decline of family owned companies is somehow inevitable. So what is the basis for this misconception about the inevitability of decline?

Family Business And Management Failure - Part 2

by George Tanewski

This article discusses operational characteristics that indicate management failure.

Achieving Liquidity In The Family Business

by George Tanewski

There are several reasons why family businesses are worth saving. Apart from the sociological aspects of a more intimate employee atmosphere under family ownership, as opposed to a public company with professional management, one primary reason for maintaining family firms is that they are probably the best earning asset that a family will ever have.

Family Business Tools & Processes: A Three-Circle Map & Developmental Models Of Family Business

by Professor Kosmas Smyrnios

The theory informs the practice; and practical experience shapes the theory.

Managers Who Are Not Family Members

by George Tanewski

Any company with a development strategy needs qualified managers to maintain and increase its competitive edge. This is a need which gives rise to several kinds of problems: how to attract and keep these managers, how to develop their individual abilities, and how to motivate them to get the most from their commitment.

Boards Of Privately Held Companies

by George Tanewski

Entrepreneurs and owners of family businesses traditionally resist bringing in outside directors because they do not want anyone telling them what to do or because they do not want to reveal company secrets. The owners of private companies, as stockholders, elect and fire directors. For that reason, they should not feel threatened by outside directors.

Executive Compensation Programs

by George Tanewski

How do family businesses retain key non-family executives?

Total 54 articles in this section.
Pages: Previous 1 . [2] . 3 . 4 Next

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