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Synopsis
Excerpt from Challenges and Issues in Managing Family Firms
The second issue concerns how the assets of the business will be shared within the family. Most family members want their fair share of the assets. If the family perceives some inequity in the distribution of the assets conflict will often result. How the founder goes about dividing assets is generally more important than the final outcome if the family is to avoid conflict. The founder must decide if he should make the decisions regarding the division of the assets alone, or should he consult his family and others. The correct decisions and the process for deciding the distribution of assets cannot be identified easily. It depends on such factors as family tradition, the number of family members involved, and the nature of the family relationships.
The founder must also deal with many other sensitive questions such as.
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About the Author
William G. Dyer was the past dean of the Marriott School of Management and founder of the Department of Organizational Behavior at Brigham Young University. He passed away in 1997.
W. Gibb Dyer, Jr. is the O. Leslie Stone Professor of Entrepreneurship and the academic director of the Center for Economic Self-Reliance in the Marriott School of Management at Brigham Young University.
Jeffrey H. Dyer is the Horace Beesley Professor of Strategy at the Marriott School, Brigham Young University, where he is the chair of the business strategy group.
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Challenges and Issues in Managing Family Firms (Classic Reprint)
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Paperback. Condition: New. Print on Demand. This book explores the unique challenges faced by family-owned and managed businesses, which account for the majority of private enterprises globally and a notable number of Fortune 500 companies. It delves into the tensions between family and business interests, examining issues such as succession planning, training for family members, and the dynamics of family relationships in a business context. The author draws upon in-depth interviews and consulting experiences to highlight the critical role of the founder in shaping the legacy of the firm, balancing family values with business goals. The book also explores the dilemmas faced by founders in delegating authority, perpetuating values, and resolving conflicts between family and non-family members. It emphasizes the need for explicit reward criteria, effective communication, and conflict resolution mechanisms to ensure the continuity and success of family businesses. Ultimately, this book provides valuable insights into the intricate relationship between family and business, offering guidance for owners and managers on navigating the unique challenges and opportunities of family firms. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781334776205_0
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Challenges and Issues in Managing Family Firms Classic Reprint
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781334776205
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