EMPRESAS FAMILIARES: COMO LLEGAR A LA TERCERA GENERACIÓN (LATINOAMÉRICA)

Abstract

Family businesses have had great relevance in the economy of countries throughout history and are entities that have been used for several investigations as they have the particularity of not getting into the third generation. 3 Managing a family business involves knowing how to balance family and work environment, keeping the essence for which it was created in the first place. The more family members are involved, the greater the challenge that the leader faces to maintain order and prepare the way for future generations. The biggest challenge that the head of the family business faces, is to choose and prepare his/her successor. For this, the leader must know when to retire, and open the doors to generational change. Depending on the dimension of the company, the leader should take into consideration the creation of a board that allows the addition of key members, whether family members or even outsiders that not only can be involved in key business decisions but also to establish important parameters for remunerations and profit sharing. It is important to identify the most common mistakes that family businesses make in order to avoid them