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Summary
No small business is easy to manage, and this is
especially true in a small family business. It is subject to
all the problems that beset small companies plus those that
can, and often do, arise when relatives try to work
together.
The family member who is charged with managing the
company has to work at initiating and maintaining sound
management practices. By describing what is to be done and
under what circumstances such practices help present some of
the confusion and conflicts that may be perpetuated by
self-centered family members. Such relatives sometimes
regard the company as existing primarily to satisfy their
desires.
The questions in this checklist are designed to help
chief executive officers to review the management practices
of their small family companies. The comments that follow
each question are intended to stimulate thought rather than
to include the many and various aspects suggested by the
question. |
