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The world is full of family businesses. Literally. Most of the world’s businesses are owned, controlled and often managed by a group of family members.1 These families face challenges that are quite complex, including how to do well in the business and in the family, too. The news is replete with stories of family feuds that spilled over into the business and vice versa. Is this how it has to be? Well, based on the experiences of business-owning families who are thriving, the answer is no. What are these families doing differently? This article is the second in a two-part series looking at how good governance can help families who own businesses and who want to do it well for the family and the business. This just might be the difference...
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