The family business is still widely regarded as an ineffective organizational form (read this, this, or that paper), especially in the US, even though recent evidence challenges this perception. Some studies (see here or here) have shown that during periods of economic growth, family-managed companies in the US actually perform better than professionally managed businesses.
Why Family Businesses Come Roaring out of Recessions
Data shows that family businesses outperform professionally-managed companies.
April 07, 2014
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Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Leading People. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
What you need to know about being in charge.