How to Prevent and Manage Family Business Conflict: Decision Making and the Family Business Constitution

by Matthew Levy Conflict among family members at home, at work, or in the board room can wreak havoc on individuals, family relationships and the stability of the family business. Managing decision making productively and preventing significant conflicts should be a primary objective for anyone in a family business. For the Family in Business there are three main causes of conflict: Lack of alignment as it relates to vision, values, expectations and policies The challenges of managing disagreements Strong emotions and sometimes even volatility The Family Business Constitution Every family in business together should have a Family Business Constitution, the [...]