A pivotal role in every family business is that of the COO, or Child Of Owner. While the acronym suggests an inherent connection to the business, the reality is far more complex. The position of COO, if not carefully navigated, can be a double-edged sword, wielding both potential for growth and peril for the family …
Ownership of a family business entails the responsibility of guardianship over a legacy, in addition to that of a stakeholder or shareholder. A competent owner is one who not only understands the nuances of business operations but also has the foresight to navigate the challenges unique to family businesses. Here, we will define a competent …
Nurturing Competence: The Key to Successful Family Business Ownership Read More »
Family companies are distinguished by the integration of personal and professional connections inside the organisation. As the firm grows and develops, family members progressively take on different jobs within it. We explore how family members’ roles in a family business evolve, beginning with the role of Provider in the early stages, progressing to the role …
Family Members’ Evolution: From Provider to Provisioner to Partner to Patron Read More »