The concept of ownership can be viewed in a narrow legal sense or from a broader perspective that encompasses knowledge, skill, integrity, responsibility, trust, and mutual consideration. When this “spirit of ownership” is achieved, the family business prospers and the family itself becomes a close-knit, effective team. This article describes some of the most important elements that can help a family with business ownership to become an effective business family.
Get full access to this article
View all access options for this article.
References
1.
Bronfman, J.“The Experience of Inherited Wealth: A Social-Psychological Perspective.” Unpublished doctoral dissertation, Brandeis University, 1987.
