Transformation Of Family Business Into Professional Management
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Transformation Of Family Business Into Professional Management
Family businesses are one of the driving forces of socio-economic development and wealth creation around the world. Many family firms started their business as traditional and are into trading, manufacturing and as service providers, among which few are prosperous and are main players in their business. During the transformation process from entrepreneurial to managerial style of leadership the first and second generation business constantly face the challenges. The transition problem affects both business and the family. The family and the business should jointly work for the business during the transition process from informal to a professionally planned and controlled organization. DownloadViews: 111

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