Family run businesses

In family businesses, there are two elements of power- money and control. When these two get mixed up, problems crop in.

One of the ways of solving this is - have family members as equal shareholders and appoint professional managers who control the operations of the business, basically delegate the operational aspects to professionals, thus giving up some control.

The family members can then focus on the strategic aspects of the organization - while playing golf!

Daily operational activities and strategic organizational development go hand-in-hand, but its difficult for the same individual to delve deep in both. And this is exactly what I am referring to.