The family businesses are a model of organization that can be very successful if carried out good corporate governance and there is a common agreement among all those who are part of it.
Steps to follow:
1. Making certain decisions such as establishing professional hierarchies, defining remuneration, delimiting functions and privileges, allowing the incorporation of some family members and not others, are some of the main situations that usually generate problems in family businesses. When these conflicts arise, it is necessary to recognize them, face them and try to resolve them through dialogue and the sharing of opinions and reflections.
2. A fundamental step to resolve conflicts in family businesses is that the people involved have the ability to separate personal relationships from professional ones, as well as to focus exclusively on the interests of the company, leaving aside their positions and particular needs. In this way, a good way will be found to find solutions that are beneficial for all members and most importantly, for the proper functioning of the company and its future success.
3. Likewise, as in any other type of company, in family businesses there must be a clear and precise organization. It must state what the position of each of the members involved in the management is, establishing above all the position and authority of the founder or highest authority of the company. In this way, there will be a figure in charge of mediating in case of labor disputes, managing the situation and finding the best solution for the company and the workers.
4. However, on many occasions, things are not well defined and the people who are part of the family business are not capable by themselves of dealing with the problem and reaching a common point. It is then that the best option to resolve family conflicts is to hire the services of an external consultant or expert, who will have their own criteria as they lack an affective bond with both the family society and the people involved.
5. The mediation and neutral evaluation is always a safe bet for those family businesses that want to stay afloat, but cannot get it for themselves. However, for this to be successful, it is essential that all family members are willing to abide by new guidelines, make mistakes, and make the changes that the external professional deems appropriate.
6. If you want to obtain useful and more detailed information on conflict resolution in family businesses, as well as key factors for their success, we recommend that you consult this free guide from Local Business School.
About The Author
VirallyMedia Editorial Staff
Our team of expert writers and researchers are dedicated to bringing you the latest trends, news, and best practices in various fields, including but not limited to business, technology, health, lifestyle, entertainment, and more. We strive to create informative and engaging content that is easy to understand and relevant to your needs.