A company is said to be a family enterprise if it is owned and controlled by the members of one family, or a few families, with the vision to run it across generations of the said family. Taguiri's Three Circle Model helps categorise different aspects of this organization. The owner segment includes all the owners of the business, which includes non-family members too, if any. The owners may or may not be involved in the functioning of the firm. The business aspect includes everyone involved in the operations of the company. Finally, family is all the family members, irrespective of their involvement in the company.
