- May 7, 2020
- Posted by: Family Office Association
- Category: Culture, White Paper
Author: Christian Stewart
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Asian SFOs: Building Capacity to Manage Conflict
Conflict among enterprising families is a major issue in Asia today as we see the – first generation wealth creators start to pass on. Most frequently these conflicts seem to arise in Asian business-owning families once they reach the sibling generation. Culture plays a large part in the origin of these conflicts, including a hierarchical family culture, a communication gap between generations, and first-generation business founders who have not modeled accountability to their children. Many business founders have also made the mistake of not cultivating in their children the ability to work together as a collaborative team of shareholders. The solution to avoid destructive conflicts in Asian family firms is to actively pursue the adoption of best family firm governance practices, preferably while the first generation can participate.
Building Capacity to Manage Conflict Within Asian Family Firms Topics Covered
- Conflicts & the Family Business: Five Key Points
- What Causes Conflicts In Family Business?
- Ten Examples of Common Family Business Conflicts
- Ten Tools To Manage Family Business Conflicts
- How Should a Family Develop its own set of Conflict Management Tools?
- What is a Family Meeting?
- What About Trusts & Trustees? Can They Help Too?
- What is the Best Way to Handle Family Business Disputes?