Unraveling Ties: Exploring Global Family Business Conflicts

Abstract

Family businesses have historically played a vital role in economies around the world, serving as the bedrock of societies and regional economies. They have emerged as key employers, significantly impacting national economies. Notably, a select few family businesses have even fostered the growth of successful conglomerates, contributing substantially to employment opportunities within their respective nations. However, it is important to acknowledge that many family businesses have encountered internal disputes, with only a handful managing to keep such conflicts discreet, while others have struggled. Conflict and succession represent the two primary threats to the continued success of family businesses. Conflicts within these businesses often arise when family owners eel hat their personal needs are not being fulfilled. Effectively managing such conflicts becomes crucial not only for the survival of the business but also for the well-being of the family involved.