Family businesses are complex entities with specific challenges. They must achieve a difficult equilibrium between the business world and the family world, making sure that they address the issues of each without neglecting the other. Family businesses represent the most prevalent form of businesses around the world and build the backbone of most economies. Even though there is growing awareness among public policy makers, as well as businesses and academics, family business research is still in a preparadigmatic stage and remains fragmented in focus and findings. This book reviews the existing literature and argues that there is a lack of research which specifically looks at the Top Management Team (TMT) in family firms and how family involvement within this team affects the performance of the firm. This book should be especially useful to family business owners, family members and managers as well as business consultants.
