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Family-Run Enterprise

Family-run enterprises, as the name implies, are a class of business initiatives created for, and managed with, the unique intention of enacting, through the value-creating activities of the firm, the vision of a dominant coalition controlled by members of the same family. In general, the goal of those who launch a family-run enterprise is to create an organizational model that will be sufficiently sustainable so as to continue to generate wealth for multiple generations of the founder’s family. In essence, what makes family-run enterprises distinct from other models of economic organization is the privileging of social cohesion within the family coalition to support the pursuit of transgenerational value creation.

Overview

Family-run enterprises represent the oldest and most widely embraced model of business organization. While a family-run enterprise ...

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