A document with a marketing strategy and governance rules

A business's financial report

A government-mandated legal document

A document defining family ideals, responsibilities, and rules of governance

A business managed only by professional managers

A business owned and controlled by family members

A business owned by international investors

A business owned by government

Government ownership

Informal organisational structures

Family involvement in business operations

Separation of ownership and management

Business ownership, and family system is determined by financial performance.

Businesses function apart from familial ties.

Family members should not be involved in management.

Business, ownership, and family systems all interact and have an impact on one another.

Developing a structured succession plan

Appointing the eldest child automatically

Selling the business immediately

Ignoring succession until retirement

Overlap between family and business relationships

No involvement of family members

Focus only on profit

No long-term planning

Promotes a common dedication to the company's long-term success

 Removes market competition

Ensures quick earnings

Eliminates the need for preparation

Cut back on company expenses

Promote dialogue for family matters that

impact the company.

Take over supervisors' roles

Get rid of all conflict

Ownership disputes and succession issues

Global trade regulations

Weather conditions

Differences in marketing strategies only

Effectively control your emotions and connections with others

Boost marketing tactic

Boost the advantages of taxes

Cut down on operating expenses