Academic Insight: Personal Relationships and Family Businesses: Soft and Fuzzy or Just Better at Handling Paradoxes?

Academic Insight: Personal Relationships and Family Businesses: Soft and Fuzzy or Just Better at Handling Paradoxes?

One of more intriguing aspects of the functioning of family businesses is their ability to mesh emotional with pure business considerations to generate original and often exceptional performance. One of the first academics to highlight this phenomenon was Professor John Ward at the Kellogg School of Management in his 2010 book “Family Business as Paradox”. To paraphrase the arguments made in the book, a family business is, by its very nature, a living contradiction. Successful, multi-generation family businesses have figured out how to manage these contradictions and in many cases turn them into the secret of their success in a world that is filled with dozen of paradoxes.

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Steve Woodward

I have worked with many family owned businesses in diverse industries over the last 20 years and this has allowed me to gain a greater understanding of how a family business can achieve growth, the risks involved and how governance plays an essential part in ownership control. I am happy to share and extend my experiences with you on how to make a successful endeavour when taking on the challenge to start or run your own family owned business. I welcome you to comment and debate any issues that you face in managing your family business, or to share your successes and best practices with us.

– Steve Woodward

Family Business Contact Us

Family Business Email stevewoodward@kpmg.bm