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The Family Business
Book

The Family Business

Its Governance for Sustainability

Fred Neubauer and Alden G. Lank
Routledge, 1998

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Editorial Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

Fred Neubauer and Alden G. Lank take a long hard look at the family business, both as a powerful engine of economic development and as a fragile organism in need of constant care and attention. After an initial examination of family business’ role in the global economy, Neubauer and Lank turn to an assessment of what makes some family concerns thrive while others disintegrate. Their answer: corporate governance, or the lack thereof. An academic tone permeates the book, resulting in both some patches of dry prose and an intellectual rigor lacking in most business books. getAbstract.com highly recommends this serious study of family business to any serious students of business in general.

Take-Aways

  • Since the beginning of Western civilization, the family business has helped drive economic development.
  • While family businesses have a higher failure rate than other businesses, those that succeed are generally more successful in providing value.
  • A family business is any business association in which a family has voting control.

About the Authors

Fred Neubauer is a professor of Multinational Corporate Strategy and Planning at the International Institute for Management Development in Lausanne, Switzerland. He has been a consultant to multinational corporations, many of them leading, family-controlled enterprises. He is the co-author of Corporate Board - Confronting the Paradoxes. Alden G. Lank is a professor of Family Enterprises and Organizational Behavior at the Institute for Management Development. He is also President and member of the Executive Board of the Family Business Network and sits on the editorial board of the Family Business Review.

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