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.