The annual family meeting—it’s a ritual of governance and kinship, a time for confronting business shortfalls and charting the enterprise’s future. At its best, it realigns the family around shared expectations and strategy. But sometimes family members walk away disgruntled.
For many family businesses, the family meeting carries an almost mythic reputation. It’s sacred, and it will guarantee future progress. But the family meeting isn’t just about policies and numbers. It’s a confluence of identity, belonging, and recognition. And when any one of these feels threatened, conflict closely follows.
How can family businesses reshape the family meeting so that it serves both business needs and family relationships? This article provides a systematic approach.
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