Acknowledgments ix
Family Enterprise: Understanding Families in Business and Families of Wealth xi
Chapter 1 Defining Family Enterprise 1
Definition 1 2
Definition 2 2
Definition 3 2
Definition 4 2
Definition 5 2
Family Business Review article: From Longevity of Firms to Transgenerational Entrepreneurship of Families: Introducing Family Entrepreneurial Orientation 4
Assessment Test 1 37
Chapter 2 Classic Systems of a Family Enterprise 39
The Family System 40
The Ownership System 41
The Enterprise System 42
Assessment Test 2 43
Chapter 3 Representative Governance Systems in Family Enterprises 45
Enterprise Governance 46
Family Governance: Family Council 48
Owner Governance: Ownership Forum 49
Assessment Test 3 50
Chapter 4 Key Characteristics of Family Enterprises 53
Characteristics 53
Challenges 54
Comparison of Family Systems and Enterprise Systems 55
Assessment Test 4 57
Chapter 5 Concepts in Family Enterprise Study 59
Systems Thinking: A Very Brief History 59
Systems Thinking: The Individual in the System 60
Relevant Systems Concepts: Triangles, Scapegoat(ing), Homeostasis, Boundaries 61
Content and Process 63
Family Business Review article: Using the Process/Content Framework: Guidelines for the Content Expert 65
Assessment Test 5 77
Chapter 6 Theoretical Frameworks in Family Enterprises 81
The Three-Circle Model 83
The Developmental Model 87
The Balance Point Model 88
Assessment Test 6 89
Chapter 7 Core Professions Working With Family Enterprises 93
Differing Perceptual Filters 95
Understand the Differences Among the Core Professions 96
Assessment Test 7 99
Chapter 8 Multidisciplinary Professional Teams 101
Types of Teams 101
Challenges Teams Face 102
Family Business Review article: The Effects of Goal Orientation and Client Feedback on the Adaptive Behaviors of Family Enterprise Advisors 103
Assessment Test 8 138
Chapter 9 Applying What You Have Learned 141
Case 1 141
Case 2 142
Case 3 142
Glossary 145
Suggested Readings From Family Business Review: Journal of the Family Firm Institute 153
About the Website 155
About The Family Firm Institute, Inc. 157
About the Authors 159
Index 161