Family-owned and managed firms are often beset by a variety of
crises that can impact the firm's very survival. These may include
changes in technology, deaths of critical family members,
competition within an industrial sector, shifts in market dynamics
and product mixes, economic turmoil, political upheaval and
revolution, firm growth, succession, and selecting new firm
leadership. Such crises may be internal to the firm or a function
of the external environment, and several may occur simultaneously;
all of them contribute to a context of uncertainty, risk, and
change, presenting particular challenges that are unique to
family-owned businesses.
This volume presents eight in-depth case studies of family-owned
firms that represent a variety of industries and situations. Each
case explores the dynamics of managing in chaotic environments and
how family leadership responded to crises. Lessons learned from
these experiences will help readers understand how to solve
problems under conditions of uncertainty and how to avoid failure,
when the survival of the firm is at stake. Featuring questions and
learning notes designed to engage the reader directly, this volume
will be a valuable resources for students and members of
entrepreneurial and family-owned firms, as well as consultants,
investors, and other professional advisors. "
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