A thorough explanation of how family enterprises work The family enterprise, whether an operating business, a family office, or both, is the backbone of the US and international economies. These enterprises cut across industries and geographies and can be first-generation entrepreneurial companies or multi-generational businesses with family offices. This book offers a foundation in and understanding of how family enterprises work, including working definitions and the key characteristics of family enterprises, as well as useful concepts for working with and in family enterprises, either as a professional or as a family member.
- Written by the experts at the Family Firm Institute, a global network of professionals, educators, researchers, and owners of family enterprises
- An ideal resource for professionals in law, finance, management, and behavioral science, family office and fund managers, and others interested in an multidisciplinary approach to this field
Acknowledgments ix
Family Enterprise: Understanding Families in Business and Families of Wealth xi
Chapter 1 Defining Family Enterprise 1
Definition 1 2
Definition 2 2
Definition 3 2
Definition 4 2
Definition 5 2
Family Business Review article: From Longevity of Firms to Transgenerational Entrepreneurship of Families: Introducing Family Entrepreneurial Orientation 4
Assessment Test 1 37
Chapter 2 Classic Systems of a Family Enterprise 39
The Family System 40
The Ownership System 41
The Enterprise System 42
Assessment Test 2 43
Chapter 3 Representative Governance Systems in FamlC/
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