Family Business Management

Family business management refers to the practices and strategies used to run a business that is owned and operated by a family. It encompasses various aspects such as governance, succession planning, and conflict resolution among family members. Effective management in this context ensures that the business not only remains profitable but also preserves family values and relationships over generations. It requires balancing professional business practices with family dynamics, ensuring that both the enterprise and family legacy thrive together. This field combines elements of entrepreneurship, management, and family dynamics to create a sustainable business model.