Publications
Publications
- August 2019 (Revised July 2023)
Demystifying the Family Enterprise: Module 1 - The Family
By: Christina R. Wing, Madeline Keulen and Vicki Morton
Abstract
Module 1 of Demystifying Families in Business focuses on the Family. The Family unit forms the bedrock of the organizations that comprise the collective Family organization, specifically, the virtues that define the Family members’ rules of engagement, and the Family governance structure necessary to support it. In this module note, we provide a framework for Legacy Governance, and introduce the Three Virtues of Family Business, (1) Clarity, (2) Fairness, and (3) Motivation, as requisite shared values for all Families in Business.
Keywords
Family Business; Family and Family Relationships; Governance; Values and Beliefs; Business Organization
Citation
Wing, Christina R., Madeline Keulen, and Vicki Morton. "Demystifying the Family Enterprise: Module 1 - The Family." Harvard Business School Module Note 620-031, August 2019. (Revised July 2023.)