Family Strategies and Management of the Dynastic Business Family

Tom A. Rüsen (), Heiko Kleve () and Arist von Schlippe ()
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Tom A. Rüsen: Witten/Herdecke University
Heiko Kleve: Witten/Herdecke University
Arist von Schlippe: Witten/Herdecke University

Chapter 9 in Managing Business Family Dynasties, 2021, pp 101-113 from Springer

Abstract: Abstract Much of the content of the family strategy of small and medium-size business families has long since been resolved by dynastic business families, who face completely different tasks and challenges. Through established structures, it is important to counteract centrifugal dynamics so that identification, bonding and motivation can always be renewed within the large family network. At the same time, communication in these large families follows a more “political” network logic and less of a family logic based on bonding. Successful family management takes this difference into account and is organised according to the logic of a family investor relations unit. However, dealing professionally with different interest groups also requires the different wishes of the various family members to be balanced, regarding participation, communication and development opportunities, and transferred into structured processes. The structural logic of the dynastic business family implies a specific type of family management, with a “chancellor” rather than a “patriarch/matriarch” or “boss”.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-030-82619-2_9

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DOI: 10.1007/978-3-030-82619-2_9

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