Family-owned companies have entrenched cultures and values. Outsiders are needed to balance such firms, but they must tread very carefully.
Family businesses, like all for-profit organisations, are driven by values related to competition, wealth, responsibility, fairness and hard work. These values are built up over generations and the cultural background of the family also has a lot to do with the behaviour of family business owners. In India, for example, family actions often lead to business actions.
