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Background Note
| HBS Case Collection
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2007
(Revised from original 2006 version)
Governance of the Family Business
by
John A. Davis
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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;