Publications
Publications
- February 20, 2014
- Harvard Business Review (website)
How to Thrive While Leading a Family Business
By: Josh Baron and Rob Lachenauer
Abstract
This article explores the differences between family business executives who thrive and those who struggle. It discusses how family business environments are inherently complex due to the intertwinement of work and life. Thriving leaders exhibit four key behaviors: establishing separate discussion rooms for different aspects of business and family, managing the emotional "crocodile" brain during decision-making, creating paths for life after the C-Suite, and fostering passion and wisdom to develop the next generation of leaders. Thriving leaders find deeper rewards and meaning within family businesses compared to corporate environments.
Keywords
Family and Family Relationships; Work-Life Balance; Family Ownership; Outcome or Result; Leadership Style
Citation
Baron, Josh, and Rob Lachenauer. "How to Thrive While Leading a Family Business." Harvard Business Review (website) (February 20, 2014).