This book will provide readers with an introductory overview of family business, the most prevalent form of business in the world. The differences between family and non-family businesses are emphasized in this book, and there are several key audiences: as a supplemental text for university undergraduate or graduate level courses such as small business management, introduction to business, entrepreneurship, or family studies; members of family businesses will benefit from the book as an introduction to the unique nature of family businesses; professional advisors to family firms such as accountants, attorneys, bankers, insurance providers, and financial services professionals may develop a better understanding of their clients; and, suppliers to family businesses will gain insight to this important business customer. Much of the literature on family business is from the United States; an attempt has been made to present relevant international information, as well. The authors uniquely include just how to define a family business and provide an overview of family business.They also include the many differences between a family owned business and a non-family owned business; the major family business theories; how family firms make business decisions; and, effective family business governance and use of advisors and boards. This book will be a useful and much-needed tool for so many people, and the authors conclude this book with future research to advance the study of family business.
Understanding the Family Business
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