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- Five attributes of enduring family businesses are123:
- Harmonious relations within the family and an understanding of how it should be involved with the business.
- An ownership structure that provides sufficient capital for growth while allowing the family to control key parts of the business.
- Strong governance of the company and a dynamic business portfolio.
- Professional management of the family’s wealth.
- Charitable foundations to promote family values across generations.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Five dimensions of activity must work well and in synchrony: harmonious relations within the family and an understanding of how it should be involved with the business, an ownership structure that provides sufficient capital for growth while allowing the family to control key parts of the business, strong governance of the company and a dynamic business portfolio, professional management of the family’s wealth, and charitable...
www.mckinsey.com/capabilities/people-and-organi…After interviewing more than 50 executives at 28 leading family businesses across the Americas, Europe, and Asia and surveying of 4,000 FBNI members, they concluded that gravity has six dimensions: values and vision, the right involvement, cohesion and interaction, family governance and clarity on leadership principles and roles.hbr.org/2019/06/6-traits-of-strong-family-businessesThe five Attributes of enduring Family Businesses
- 1. Harmonious relations within the family and an understanding of how it should be involved with the business
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