| | |
| Summary |
| Please note: The McKinsey Quarterly has agreed to a special arrangement for CEOExpress members that allows member access to their articles. Articles must be clicked on directly through the links below to gain access to this group of articles.
|
Keeping The Family In Business
Few family-owned businesses survive—and even fewer create shareholder value—beyond the third generation. Yet some defy the odds and continue to thrive under family control decade after decade. We interviewed the leaders of 11 large and successful survivors in the United States, Europe, and emerging markets to understand what these families do right.
The take-away: Successful family businesses are committed to good governance. Those that have endured for generations tend to include outsiders on their boards and base hiring and promotion on merit. Transparency and meritocracy may not be in the interest of some family members but do help build a strong organization that benefits the family as a whole, as well as other stakeholders in the business.
Articles provided by The McKinsey Quarterly
© 1992-2003 McKinsey & Company, Inc
|
|
|
