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  • August 2019 (Revised July 2022)
  • Module Note

Demystifying Families in Business: Module 1 - The Family

By: Christina R. Wing, Madeline Keulen and Vicki Morton
  • Format:Print
  • | Language:English
  • | Pages:13
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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 Families in Business: Module 1 - The Family." Harvard Business School Module Note 620-031, August 2019. (Revised July 2022.)
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About The Author

Christina R. Wing

Technology and Operations Management
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Related Work

    • August 2019 (Revised July 2022)
    • Faculty Research

    Demystifying Families in Business: Module 1 - The Family

    By: Christina R. Wing, Madeline Keulen and Vicki Morton
Related Work
  • Demystifying Families in Business: Module 1 - The Family By: Christina R. Wing, Madeline Keulen and Vicki Morton
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