CHARACTERISTICS OF “HEALTHY” FAMILY BUSINESSES

While it is helpful to understand the conditions that lead to healthy and unhealthy family businesses, most family businesses cannot be classified either as completely healthy or unhealthy; each has certain strengths and weaknesses. Indeed, the uniqueness of family businesses is best understood by examining their strengths and weaknesses, often different sides of the same coin.

The dimensions of a family business and the strengths and weaknesses associated with them are found in the table below.

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