The root of disagreements starts with dilemmas and deviations which are the seeds for disagreements. Long pending disagreements culminate into conflicts. Hence the family must learn to manage the conflicts and resolve them 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.
The key is not to avoid conflicts, but to anticipate issues that can result in conflicts and developing clear guidelines that are acceptable to all for dealing with them and timely resolution of the same. By creating binding agreements on governance, you provide clear criteria for decisions, and establish a mechanism to help resolve conflicts and disagreements before they have disastrous effects.
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.
Does Your Family Business Need Help?
With extensive hands-on experience in assisting family businesses, we understand the challenges families face as they work together to build a thriving family business generation after generation. Through orientation programs, one to one and group 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.
Get In Touch
Sandesh Vasant Mestry
Family Business Consultant and Mentor
101, New Chandralok CHS, Ground Floor, Near, Veer Savarkar Marg, Tembhi Naka,
Thane West, Maharashtra 400601