Family Business: Should Leadership Always Stay in the Family?
For a long time, many family businesses have viewed succession not as a strategic decision, but as a predetermined fate. The logic seems simple: the business belongs to the family, so it feels only natural that the top position should be passed down from generation to generation. However, experience across generations shows that reality is […]
Organizational Structure in Family Businesses: Formal on Paper, Personal in Practice
Family businesses have unique characteristics. These entities combine two worlds with different principles: the corporate world, which is governed by rationality and procedures, and family relationships, which are influenced by emotions and personal bonds. This contrast is clearly reflected in their organizational governance. On paper, many family businesses appear to be managed formally—complete with organizational […]