How to Prevent Conflict Among Family Members in a Family-held Business

Seminar paper from the year 2018 in the subject Business economics - Business Management, Corporate Governance, grade: 1, , language: English, abstract: Management of family held business presents enormous challenges, owing to the presence of conflicts among family members. This hinders progress of the business and cause family tension, which may lead to adverse consequences. In most cases, disputes over family businesses are addressed through litigation. However, courts do not provide opportunities for healing and reconciliation. If that is the case, then the principal question we should ask is 'how can we prevent conflict among family members in a family held business using management approaches?' To discuss these issues, two cases will be presented in which the impact of disputes among family members will be substantiated as reported by Ray Folberg. These cases are the case of real estate in the Silicon Valley and the case of seaside villa in southern California.