Field Guide to Family Firms
(Updated December 2007)
Family firms have their own special type of problems and concerns--hiring children who aren't interested in the family business, concerns of favoritism among non-family staff, succession issues and much more. Find out how to tackle these problems from the following articles and family business organizations. (V. Broady, Information Specialist)
Contents:
Family Relationships | Succession Planning | Family Business Organizations | Books, eBooks & Other Resources
Facts about Family-Owned Businesses
80% of the world's family businesses are family-owned
Nearly 35% of family-owned businesses are Fortune 500 companies, including Ford, Wal-Mart and Anheuser-Busch
More that 25% of family firms expect the next CEO to be a woman
More than 30% of all family-owned businesses survive into the second generation.
Source: Cox Family Enterprise Center, (www.kennesaw.edu/fec).
Myths about the Family Owned Business, (Leibowitz & Associates, PC).
Family-Owned Businesses: Walking the fine line between Family and Work, (Baby Shop Magazine).
The Family-Owned Business, (Pepperdine University, 2007).
He Led, She Led: Gender in the Family Biz, (BusinessWeek, Oct. 31, 2007).
Honey, let's work together, (CA Magazine, Oct. 2007). Q
The Trade-Off Between Financial Resources and Agency Costs in the Family Business, (Family Business Review, Sept. 2007). Q
20 challenges faced by a family owned business, (Lee Iwan Accumulated Experience, Aug. 17, 2007).
Problems In Managing A Family-Owned Business, (Canada Business Network, Aug. 1, 2007).
Building a Family Business to Last, (BusinessWeek, Mar. 19, 2007).
Succession Planning
7 questions to ask yourself before you sell to your family, (REALTOR® Magazine Online).
The Black Box: Unraveling Family Business Succession, (New England Journal of Entrepreneurship, Fall 2007).Q
The Family Business - It's a Dream, (Supply House Time, Sept. 2007).Q
Family Business Succession - With a Heart, (Agency Sale, Aug. 2007).Q
Splitting Heirs, (INC., Aug. 2007).Q
Incorporate Family Dynamics Into Succession Planning, (National Underwriter, Life & Health, June 4, 2007).Q
A Change In Leadership for Family Firms, (Accounting Technology, June 2007).Q
Business Succession Strategies That Work, (Accounting Technology, Apr. 2007).Q
Face the Fear, (Trusts & Estates, Feb. 2007).Q
Cox Family Enterprise Center, (www.kennesaw.edu/fec).
Family Business Alliance, (www.fbagr.org).
Family Business Center, (www.mba/wfu/edu/fbc/overview.html).
Center for Family Business, (www/busadm.mu.edu/familybiz.index.htm). May/June 2001).
Books, eBooks & Other Resources
eBooks.realtor.org
The following ebooks and digital audiobooks are available to NAR members:
Unconventional Wisdom: Counterintuitive Insights for Family Business Success (Adobe eReader)
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
Are we building a four-generation real estate sales organization?, (Real Trends, Dec. 2003, p. 8-9).
Legacy or loss?, (Real Estate Today, July 1992, p. 30-31).
Family ties, (Florida REALTOR®, Sept. 1990, p. 12-15).
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