In family businesses, when personal and professional relationships are tightly intertwined, conflict is not far off. Because of this, families must take preemptive measures to manage conflict in productive ways. The tried-and-tested conflict management solution? Governance structures.
Governance structures define roles, clarify expectations, and guide decisions based on principle rather than impulse. There is an abundance of governance structures families can choose from. This article digs into the six governance structures best suited for preventing conflict in family businesses.
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