Creating Effective Corporate Governance in Family Businesses
- Topics:
- Competitive Strategy
- Source:
- Genus Resources
FREE Registration is required
Overview: The popular view of corporate governance in family businesses is that efforts to improve the situation are as likely to succeed as efforts to reform financing of American political campaigns. Commonplace wisdom has it that family businesses range from secret to hermetically sealed and that both fiduciary and non-fiduciary governance bodies are merely rubber stamps. These historic assumptions about governance in family businesses are correct in many cases, just as they could be applied to the governance of many public companies and foundations. But it is as unfair to treat such assumptions as universally true of family business governance as it is to assume all board members of Fortune 500 companies are henchmen of the CEO or that all boards of non-profit organizations are inattentive to all matters except fundraising. The literature generally suggests that establishing corporate governance in family business is a good idea, but not one whose time the public perceives to have come.
(Is this item miscategorized? Does it need more tags? Let us know.)
Format: HTML | Date: Jan 2003 | Pages: 1
