The advisory model in family businesses is a way to bring in external expertise to help guide the business. This model involves creating an advisory board made up of people with different backgrounds and skills who can offer advice and support to the family members who run the business. The advisory board does not have any formal power or decision-making authority, but they provide insights and recommendations to help the family make informed decisions. The advisory model is useful for family businesses because it allows them to tap into outside knowledge and experience without giving up control of the company. It can also help family members avoid conflicts that arise from differing opinions or competing priorities.
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Family Business Labs
"The Successor's Paradox"
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