familymanaged
Familymanaged is a term used to describe organizations in which management duties are primarily carried out by members of a single family. While often overlapping with family-owned businesses, familymanaged emphasizes governance and day-to-day leadership within the family, regardless of whether the family also holds a controlling equity stake. In such arrangements, generations may contribute to strategy and operations, and family ties can influence corporate culture and long-term planning.
Characteristics of familymanaged firms often include a long-term horizon, a strong emphasis on values and reputation,
Advantages of familymanaged firms include continuity, deep organizational knowledge, aligned incentives, and the potential for resilience
Challenges include governance complexity, potential conflicts between family members, and difficulties in professionalizing management. Access to
Governance approaches commonly adopted include establishing a family council or board, creating a family constitution that
See also: family business, corporate governance, succession planning.