How Outside Directors Can Help a Business Family Rise Above the Inevitable Conflicts

Tags:
Business Family,
Delaware Valley Family Business Center,
Director,
Finance,
Investment
Source:
Delaware Valley Family Business Center

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Overview: The article explains the situations of the business families that come under inevitable conflict. Conflict, by definition, is neither good nor bad. It should come as no surprise that different family members have different perspectives. These differences can create high-octane energy. If not handled properly, this volatile mix can explode—or it can propel the business forward with greater clarity and power. It states that how outside directors help a business family can rise above the inevitable conflicts. Carefully selected directors from outside the family circle often can bring healthy perspective and objectivity to those inside the circle just by showing up. Bringing such outside directors aboard doesn’t happen overnight. It often takes place over time with the assistance of a trusted adviser to the company—generally a family business consultant.

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Format: HTML | Date: Jun 2003 | Pages: 1

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