The Soft Rules of Family Businesses

Family businesses are part of what makes the country thrive, and a lot of family businesses are wholesome in the sense that they understand what it takes to be united both in family life and in business. Sometimes, though, there can be conflicts that arise, sometimes it has to do with money, and other times it has to do with hurt feelings. Soft issues require soft rules when it comes to managing conflicts about another persons feelings.

Key Takeaways:

• Family enterprises need to manage “soft rules”. Although this applies at any time, it is most easily overlooked in the first two generations of the family, because the family is often not formed at th
• Finally, when the “soft rules” are violated and some people feel hurt, then sit back and ignore the problem, it will lead to discord and conflict, affecting the normal management and operation of the
• Understanding the causes of violations is critical to managing “soft rules” so that problems can be found and solved in time.

“In addition to managing the business, the family needs to manage itself.”

Read more: https://www.bcg.com/publications/2020/managing-soft-rules-in-family-business