Power and control impact family businesses, just like any other enterprise. What makes the inevitable power and control struggles even more complex in a family business are the family dynamics that play a significant role in decision-making and succession planning. If family dynamics are not centered on a shared purpose, the result is often organizational friction and low performance. A common mission, high-trust relationships, and effective decision-making can help to bolster family-business performance, especially in today’s uncertain business climate.
