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Family system and continuity of family businesses

Abstract:

Family businesses, even though they are similar in many ways to other organizations that are not, have differences that come from the explicit nature of the family system in the ownership and control of the business. This research aims to analyze elements of the family system that can affect the continuity of family businesses. The study is documentary-descriptive, based on family business theories developed by authors such as: Ward (2003), Gallo and Amat (2003), Chrisman, et al. (2005), Cabrera, et al. (2005; 2014), Amat, et al. (2008), Belausteguigoitia (2010), among others. The findings obtained indicate that the elements of the family system that contribute to the continuity of the family business are mainly related to the human component, which require skills related to family leadership, culture and the ability to manage businessfamily relationships, instead of business and rational elements. It is concluded that the challenge of the family system to achieve the continuity of these companies is connected with the need to have formal structures of shared power; overcome traditional models of succession and leadership, related to patriarchal control; and improve both communication processes and conflict management.