Family Businesses at the Millennium: Understanding the Challenges of "Mom and Pop"
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Overview: Article overviews that family-owned businesses constitute a unique market for professional service providers, but for a host of reasons most service providers are ill-equipped to deal effectively with family firms. Increased competition for market share and intensified demands from a better-educated generation of successor owners are likely to challenge the historically stable relationships between family businesses and their traditional service providers. Family firms have been getting a lot of attention recently and understandably so. Their economic impact accounting for more than half of U.S. gross domestic product and employing 60 percent of our work force has been written about and repeated so many times, in so many places that it is treated as gospel. It is, however, only during the last 10 years that multiple spotlights have illuminated the stage of family enterprises. This discussion will present the family business in a holistic light, so that service providers who toil with these often-times frustration clients can respond more effectively. Read on and know.
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Format: HTML | Date: Jan 2003 | Pages: 1
