Management of family held business presents enormous challenges, owing to the presence of conflicts among family members. This hinders progress of the business and cause family tension, which may lead to adverse consequences. In most cases, disputes over family businesses are addressed through litigation. However, courts do not provide opportunities for healing and reconciliation. If that is the case, then the principal question we should ask is ‘how can we prevent conflict among family members in a family held business using management approaches?’
To discuss these issues, two cases will be presented in which the impact of disputes among family members will be substantiated as reported by Ray Folberg. These cases are the case of real estate in the Silicon Valley and the case of seaside villa in southern California.
Inhaltsverzeichnis (Table of Contents)
- Abstract
- Introduction
- Dispute Cases of Family held Businesses
- The Case of Real Estate in the Silicon Valley
- The Case of Seaside Villa in Southern California
- Conflict Prevention Strategies
- Conclusion
- References
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This research paper explores the challenges of managing family-held businesses, specifically focusing on preventing conflicts among family members. It aims to provide insights into strategies that can promote business success and family cohesion while mitigating potential disputes.
- The impact of family conflicts on the success of family-held businesses
- The importance of addressing divergent expectations, misunderstandings, and conflicting feelings within family businesses
- The limitations of legal remedies in resolving family business disputes
- The need for tailored management approaches specific to the unique complexities of family businesses
- Effective conflict prevention strategies for fostering a harmonious and profitable family business environment
Zusammenfassung der Kapitel (Chapter Summaries)
The paper begins by discussing the challenges of managing family-held businesses, highlighting the prevalence of conflicts among family members and their potential consequences. It then presents two case studies illustrating the impact of disputes on family businesses. These cases involve siblings who inherit real estate properties and experience disagreements over management strategies and financial decisions, ultimately leading to legal disputes.
The paper concludes by exploring conflict prevention strategies, emphasizing the importance of open communication, clear expectations, and a collaborative approach to ensure both business success and family harmony.
Schlüsselwörter (Keywords)
Family-held businesses, family conflicts, conflict prevention, management strategies, mediation, real estate disputes, divergent expectations, collaborative approaches, business success, family cohesion.
- Quote paper
- Caroline Mutuku (Author), 2018, How to Prevent Conflict Among Family Members in a Family-held Business, Munich, GRIN Verlag, https://www.grin.com/document/429724
