Relationships KEY to Family Business Success

Topics:
Interpersonal Communication
Tags:
Family Business,
Relationship
Source:
Family Business Institute

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Overview: Perhaps the single most important element in the success or failure of a family business is the relationship among key members of the business family. Most businesses can survive the threats of competition, economic cycles, changes in technology, or other factors, but the deterioration of interpersonal relationships will devastate the business and tear apart the family. A family company can be defined as any business in which business and family relationships have significant impacts on each other. There are skills which can be taught to make working together and living together more rewarding and enjoyable. These skills form a pyramid which, if implemented, will help improve relationships within the family and the business. Hence, the family business plays a very instrumenrtal role as it establishes a strong relationship among the family members.

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

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