Provocation: Family enterprises are sometimes depicted as a happy mix of tradition and creativity. But are they really? Under the surface, they can be a battlefield of conflicting visions, where generational differences transform boardrooms into family feuds. Do family enterprises strengthen common values or weaken emotional complexity?
Invocation: Consider family enterprises as a double-edged sword. On one side, they provide a common sense of purpose and long-term stability. Conversely, they run the risk of turning echo chambers where family devotion eclipses merit. How can a family business grow without compromising its essence?
Revocation: Not all family companies, meanwhile, are meant for drama. Family enterprises may flourish for generations with open communication, well defined roles, and transparent governance systems. Carlock and Ward (2010) claim that effective family enterprises give strategic planning top priority and deliberately distinguish family roles from company roles.
References:
Carlock, R.S., & Ward, J.L. (2010). When Family Businesses are Best: The Parallel Planning Process for Family Harmony and Business Success. Palgrave Macmillan.
Gersick, K.E., Davis, J.A., McCollom Hampton, M., & Lansberg, I. (1997). Generation to Generation: Life Cycles of the Family Business. Harvard Business Press.