Strategic Planning and the Family Firm: An SBI Consulting Perspective
Given the fact that approximately 90 percent of all businesses could be classified as family-owned or closely-held, it is becoming increasingly important that SBI student consulting teams are sensitive to the issues surrounding family and privately y-held firms. Several issues regarding complexities of the family and business systems of family y-owned firms are presented and discussed. It is posited that strategic management plays a role in the balancing and merging of the two sometimes discordant systems and can be used by the SBI teams in the consulting process. Finally, the need for research in the areas of 1) interest in ownership succession by family members; and 2) leadership succession in the family-owned firm is presented and discussed.
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