Sticking to “this is just how we do things around here” can have disastrous consequences, even for the closest family owner group.
The author outlines five different types of family business owners, whose involvement ranges from passive to operational. He also shares a process to help families discuss their desired roles and evolve the business governance accordingly.Sienna Amouri*, the 72-year-old chairwoman and founder of a high-end cosmetics enterprise, was distraught.