Life Cycles in the Family Business

Depending on a family business's stage of development, the types of conflicts that may arise, as well as the best ways of dealing with them, can vary greatly. Proper resolution of the issues associated with each stage should be undertaken far enough in advance. Many common problems can be anticipated and there are well-known methods for managing them. This technical note provides an analysis of the following four typical situations: 1) The triple convergence of adverse circumstances at the end of the first generation. 2) Internationalization. 3) Changes in relationships among key stakeholders during the transition from the second to the third generation. 4) Structural crises during the second and third generations.