The root of disagreements starts with dilemmas and deviations which are the seeds for disagreements. Long pending disagreements culminates into conflicts. Hence it is important that the family learns to manage the conflicts and resolve it faster, so it does not pose harm to the family business.
Every family business faces conflict at one point or another. No matter how cohesive the family business looks on the outside, there is undoubtedly at least a small measure of conflict brewing on the inside. As the family grows from generation to generation the business starts suffering from constantly evolving conflicts. Hence it is important to implement effective family business conflict resolution techniques.
Anticipating conflicts and proactively dealing by developing clear guidelines and adopting effective conflict management techniques is the only way forward for the family business to ultimately succeed and prosper.
The key is not to avoid conflicts, but to anticipate issues that can result into conflicts and developing clear guidelines which are acceptable to all for dealing with them and timely resolution of the same. By creating binding agreements on governance, you set up the playing field for orderly succession, provide clear criteria for decisions and establish mechanism to help resolve conflicts and disagreements before they have disastrous effects.
Does Your Family Business Need Help?
With extensive hands on experience of assisting family businesses, we understand the wide variety of challenges that families face as they work together to build, grow and sustain a thriving family business generation after generation. Through orientation programs, one to one as well as common meetings, workshops, public talks, mentoring, coaching, Family retreats and private family business consulting services, we help family business owners chart their way through family business issues of all shapes and sizes.