Few family businesses survive into the third and fourth generations, and oftentimes the culprit is misalignment between the goals, wants, and needs of the business and individual family members.
Family is one of the most evocative words in any language. It conjures up thoughts of love, strength, support, and special bonds, but also of conflict, tension, and drama. Nurturing the positive side of this equation takes effort and dedication. While this can be challenging for any family, those in businesses together must work doubly hard to achieve long-lasting harmony.
In this report, articles from Deloitte practitioners who work with family businesses provide actionable insights on topics ranging from succession to social responsibility, from preserving family capital to assessing the health of family businesses, and from innovation to the future of work.