Professionalizing Family Businesses
Read the article Professionalizing Family Businesses (you can do this in the window below or follow the previous link to read the article in a separate window) and then consider answers to the questions below.
Define the terms:
- Culture clash
- Strategic planning
Explain what is meant by professionalizing a family business.
Analyse why the process of professionalization may cause conflict between family members.
Evaluate strategies that family firms could adopt to improve their quality of management.