What are the issues That Family Businesses are Balancing?

Listen to Raphael Amit speak about balancing the business growth with family harmony.

So, family business unlike widely held public corporations, have a challenge of balancing on one hand, the prosperity, sustain inability and competitiveness of the business, side by side with enabling and sustaining family harmony, the happiness and self-actualization of individual family members, and that becomes very challenging, especially in multi-generational multi-branch families, where there is a wide variety, wide range I should say of lifestyles, which translates into liquidity needs, risk preferences, investment horizons, so all these issues are very challenging for a family to have to balance. And the main idea here is that it’s not just about business, it is very much about family and harmony and cohesion and happiness and it is about the financial performance and growth of the family enterprise.