One of the most important books I've read on family firm management. The author highlights the importance of understanding the three systems that work in tandem in family firms: ownership, the family, and the business. Each of these will go through different phases at different times, making it an extremely complex (but powerful) system.
The book operationalizes a lot of the theories surrounding family firms by suggesting a few frameworks that can help understand and mitigate the challenges associated with managing these firms. The book puts a few handful case studies as an introduction to each chapter and as a way to explain the ideas that follow.
In light of my own research, stewardship exit strategies in family firms, I found the book helpful in developing a few blueprint ideas associated with the transfer of decision making from owner to second generation. For example, does the owner prefer a controlling owner or a sibling partnership?
I highly recommend this book for owners who invision their firms in the future as a family business. Or for family members who struggle to understand the dynamics of their own family firms.