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Adapt and thrive

Practitioners must adapt to the needs and characteristics of the family dynamic if they are to successfully advise a family business, says Dr James Cunningham

22 October 2014

Practitioners must adapt to the needs and characteristics of the family dynamic if they are to successfully advise a family business, says Dr James Cunningham

Family businesses are unique, peculiar and without question set-aside from non-family rivals. Dealing with them can be an emotional rollercoaster for both practitioner and client. The discussion surrounding family businesses over the past 15-20 years has attempted to develop a particular understanding of their support requirements. However, by way of a disclaimer, much of the academic research in this area has been sporadic
in nature.

Inconsistent views on best practice when dealing with family business clients is symptomatic of a broader concern in the field of family business research, where definitional warring and scholarly bias do little to clarify the minefield of issues a practitioner may come across. Prag...

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