FAMILY AND FAMILY BUSINESS CONCERNS
Family businesses are often very successful business ventures but at the same time they are intricate organizational constructs unto themselves, because they combine all of the ‘usual’ business benefits, responsibilities and concerns with each family member’s inter woven work ethic, needs, goals, financial and personal values. Because of the unique combination of attributes present in family businesses, when a family business goes through a transition, such as a change in leadership, ownership, investment, or business focus then family dynamics can become increasingly apparent and traditional corporate-styled decision making strategies may not work.At such times the need to make decisions and take action in a family business can be just as critical to the future success of the family business as the method used to reach a given decision or implement an action.If a matter cannot be decided or an action cannot be taken then the business may fail on the other hand if one family member forces a decision/action upon another then two or more family members may become estranged causing statement or failure of the family business as well. This is because family businesses frequently have to address such complicated issues as sibling rivalries, next generation competence, perceived unfairness, the interplay of family and business interests personal and financial goals; the complexity and responsibility of extended family and spousal relationships and even estate taxes.Therefore in Family Business Disputes it is critical that parties are able to make informed decisions, remain respectful of each other and have an appreciation of each other’s interests and goals. Having a neutral party facilitate a conversation about what each individual wants out of the business and out of the family relationships can be very effective towards achieving resolution of a Family Business Dispute. Additionally, the process of Mediation is particularly suited to engendering ongoing communication between family members and the maintenance of personal and working relationships.If you are interested in learning how Mediation By Choice can assist you and your family members to better identify the underlying issues that are affecting their decision making and come forward with a practical, effective business plan or decision, please feel free to contact this office by calling 781-444-8888 or sending an email to firstname.lastname@example.org schedule a confidential appointment.