Success of family business

khaled Sayed khaled Sayed
سؤال Career Coaching تاريخ النشر : 1 year ago
What can make a family business sustainable and continuous? And is it different from any other business?

Ali Atef Ali Atef

In a very simple way ; the answer is "Family Business Governance" It covers two broad topics: governance of the business and governance of the family. Family Governance is a topic that most families are reluctant to address. Most family businesses, especially in the formative years, take on the characteristics of the founder or founding family. Although this entrepreneurial model works for an early stage family owned business, as the company grows in size it needs gradual evolution to a different model. Board of Advisors, Board of Directors, and Professional Management are some of the ways to improve the governance and performance of the business.

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