Background Note | HBS Case Collection | August 2006 (Revised July 2007)

Governance of the Family Business

by John A. Davis

Abstract

Reviews the ways to achieve governance of the family business. Points out the importance of plans (e.g., strategic plans), statements (e.g., mission statements), policies, rules, and agreements to the governance process. Discusses the roles of three structures in family business governance: the top management team, the family employee council, and the board of directors.

Keywords: Family Business; Corporate Governance; Governing and Advisory Boards; Management Teams; Mission and Purpose;

Citation:

Davis, John A. "Governance of the Family Business." Harvard Business School Background Note 807-022, August 2006. (Revised July 2007.)