Family Business
Conclusion
The family enterprise continues to be an important element of the world economy and a location for understanding conflict in family relationships internationally. Managing conflict effectively in the process of succession is crucial to preserving the impact family enterprise has on our economy and families themselves. Therefore, whether the family business is based in the United States or across the world, one needs to be aware of the five points in which conflict is most likely to occur: (1) the mutual acceptance of roles; (2) the agreement to continue the business; (3) the propensity of a successor to take over; (4) the propensity of an incumbent to step aside; and (5) succession planning because conflict in family succession is universal.
See also: COMMUNICATION: FAMILY RELATIONSHIPS; CONFLICT: FAMILY RELATIONSHIPS; CONFLICT: PARENT-CHILD RELATIONSHIPS; DECISION MAKING; RICH/WEALTHY FAMILIES; SIBLING RELATIONSHIPS; WORK AND FAMILY
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MICHAEL A. GROSS
Additional topics
Marriage and Family EncyclopediaFamily Theory & Types of FamiliesFamily Business - Mutual Acceptance Of Roles, Agreement To Continue The Business, Propensity Of A Successor To Take Over