1. Family business: When you can't choose your partners.
- Author
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CRITTENDEN, VICTORIA L., CRITTENDEN, WILLIAM F., EDDLESTON, KIMBERLY A., KELLERMANNS, FRANZ W., and FLOYD, STEVEN W.
- Subjects
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FAMILY-owned business enterprises , *SUCCESSION planning , *STRATEGIC planning , *BUSINESS losses , *INNOVATIONS in business , *FAMILY relations - Abstract
The article focuses on succession planning and strategic planning in family businesses in the U.S. Topics discussed include family-owned retail store chain Market Basket Co. in the U.S., which suffered losses due to employee resistance to a new management team; succession planning which is essential for a business but can create conflict and disharmony in a family; and strategic planning that can lead to innovation and new product development, but can pose a risk to family's wealth.
- Published
- 2015