Publication Type

Magazine Article

Version

Publisher’s Version

Publication Date

5-2019

Abstract

Family-controlled businesses are the dominant form of business organisation across the world, and particularly so in many Asian countries. A major challenge that family businesses face is the lack of togetherness or cohesion among the members of the owner family, especially across generations. This often leads to confusion, differences and confl icts within the family and poses a serious threat to the sustained growth and long-term survival of the business. Lack of family togetherness also puts the founder’s legacy at risk. Breakups and splits in large business families have the potential to create macro-level disturbances, especially given their massive scale and infl uence on their national economies. Therefore, in order to thrive for long periods, family businesses need to profoundly understand and effectively address the family togetherness challenge.

Discipline

Entrepreneurial and Small Business Operations

Publication

Asian Management Insights (Singapore Management University)

Volume

6

Issue

1

First Page

26

Last Page

31

ISSN

2315-4284

Publisher

Singapore Management University, Centre for Management Practice

City or Country

Singapore

Embargo Period

6-26-2019

Copyright Owner and License

Singapore Management University

Additional URL

https://cmp.smu.edu.sg/ami/article/20190522/family-togetherness

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