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Governance

Despite changing realities of the new economy, a group of companies – ‘hidden champions’ – has stayed true to its core principles, with business characteristics similar to those of family-run businesses

Family businesses gain the most useful and effective insights into business practices by learning from the experiences of other family businesses

Family businesses are especially vulnerable to emotional biases that create ‘untouchables’ – people with lifetime tenure in the firm regardless of performance. No family business can eliminate emotions, but a few tips from university tenure systems can help ensure the ‘untouchables’ will be contributing to the firm’s success

Barbara Murray discusses how the much-respected 3-circles model can benefit families collaborating on a brighter future in business together

Finding the right model of governance at a time of complex change requires essential re-thinking. Focusing on the potential future scenarios and being educated in the key issues are good starting points for an effective transition

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