A family business is a broadly defined concept where there is no uniform definition among the experts. In this field, various authors researched the dimensions of family businesses. In family businesses, two strong and different systems are intertwined: family system and business system. The first is based on emotions and values. The foundation of the second is determination and performing tasks. In spite of intertwining, family businesses have several advantages in comparison to others, especially because of the fact that the core of the company is the family. Different conflicts occur in family businesses in comparison to non-family businesses because of the intertwinement of these systems. Various family members are involved. They influence the functioning of the company and solving the conflicts. The successfulness of solving conflicts, however, also influences the effectiveness of the business conduct of the company. If the family members solve the conflicts on the regular basis and with a sound judgment, they contribute to the effectiveness and growth of the family business. The transition between generations and the transfer of conducting business also needs to be prepared gradually and well-planned. Thus, the family business ensures a successful business conduct also with the future generations of leaders.
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