Abstract

When family members work together, emotions may interfere with business decisions. Conflicts may arise as relatives see the business from different perspectives. Those who are silent partners, are likely to judge capital expenditures, growth and other critical matters primarily. Those engaged in daily operations are more likely to be concerned about transactions.and personnel matters. Obviously, there is potential for conflict. As there is a gap in between expectations and performance.

In some family businesses daily operations are hampered by conflict; in others, the challenge is a clear chain of command -- lines of authority -- for decision making. ! A clear  plan to accomplish goals and provide for orderly succession. ! Good communication among family members and with nonfamily employees. These factors are important in a family business because of the strong emotions that can arise and the confusion that can occur in their absence. Rights and responsibilities are different at home than at work, and it is imperative that family Language is personal, attitudes are subjective, roles -- husband/wife, parent/child, family/relatives/in-laws -- are traditionally defined.

Key Words: Family Businesses, Husband/Wife, Parent/Child, Chain Of Command