14 Strategy for Family Business
It is good to have an end to a journey forward, but it is the journey that matters in the end
- identify a family business (FB) from its characteristics vis-à-vis a non-family business
- understand the importance and elements of succession planning for sustained growth of an FB
- identify the importance of socioemotional wealth and governance structure suited to an FB
- Assess the bundle of special resources a family business can leverage for success.
- Appreciate the importance of control systems especially financial management systems in a family business for system performance.