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The Harvard Business Review Family Business Handbook
"The one book you need to navigate the complex decisions and critical relationships necessary to create and sustain a healthy family business--and business family. Though "family business" may sound like it refers only to mom-and-pop shops, businesses owned by families are among the most significant and numerous in the world. But surprisingly few resources exist to help navigate the unique challenges you face when you share the executive suite, tax returns, and holidays. How do you make the right decisions, critical to the long-term survival of any business, with the added challenge of having to do so within the context of a family? This comprehensive handbook brings you sophisticated guidance and practical advice from family business experts Josh Baron and Rob Lachenauer. Based on their decades-long experience working closely with a wide range of family businesses around the world, the authors present proven methods and approaches. In the HBR Family Business Handbook you'll A new perspective on what makes family businesses succeed and fail A framework to help you address the myriad decisions facing your family business--including how to make good decisions together Step-by-step guidance to help you understand what type of family business you own, define success on your own terms, communicate effectively, manage conflict, prepare for changes within your business family, and transition to the next generation Key questions about wealth, unique to family businesses, that you can't afford not to ask yourself--and your family Exercises and assessments to help you determine where you are--and where you want to go Stories of real families and real companies, from Radio Flyer to Sierra Nevada Brewing Company The HBR Family Business Handbook addresses these issues and more. Keep this guide with you to help you build, grow, and sustain your family business--and your business family--for years, and generations, to come."--
288 pages, Kindle Edition
First published January 26, 2021
150 people are currently reading
308 people want to read
About the author
Josh Baron
2 books2 followersDr. Josh Baron is a cofounder and partner at BanyanGlobal. For over a decade, he has worked closely with families who own assets together, such as operating companies, family foundations, and family offices. He helps these families define their purpose as owners and establish the structures, strategies, and skills they need to accomplish their goals.
Before Banyan, he worked at Bain & Company and the Bridgespan Group. Baron teaches family business courses at Columbia Business School in the MBA, Executive MBA, and Executive Education programs. He publishes and speaks frequently on family enterprises and is a regular contributor to the Harvard Business Review, including “Why the 21st Century Will Belong to Family Businesses,” “Why Family Businesses Need to Find the Right Level of Conflict,” and “Every Business Owner Should Define What Success Looks Like.”
A graduate of the University of Pennsylvania, the University of Cambridge, and Columbia University, he is also the author of Great Power Peace and American Primacy: The Origins and Future of a New International Order.
Before Banyan, he worked at Bain & Company and the Bridgespan Group. Baron teaches family business courses at Columbia Business School in the MBA, Executive MBA, and Executive Education programs. He publishes and speaks frequently on family enterprises and is a regular contributor to the Harvard Business Review, including “Why the 21st Century Will Belong to Family Businesses,” “Why Family Businesses Need to Find the Right Level of Conflict,” and “Every Business Owner Should Define What Success Looks Like.”
A graduate of the University of Pennsylvania, the University of Cambridge, and Columbia University, he is also the author of Great Power Peace and American Primacy: The Origins and Future of a New International Order.
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Displaying 1 - 13 of 13 reviews
March 5, 2023
Χρήσιμος οδηγός για όσους εργάζονται σε οικογενειακές επιχειρήσεις. Ωραίες ιδέες και τεχνικές.
January 19, 2021
I don't usually read business books, but this one is particularly close to my heart. I work in the family business world and I think that these guys have totally nailed it. The content of this handbook is spot on. It's not the same old dreck you get from a lot of family business consultants. It's new and thoughtful and focused on what really matters instead of just building structure for the sake of structure.
And most importantly, this book is highly readable. So many of these business books can become textbooks and the most boring, impractical load of junk. But not this one. Every chapter held my interest with stories and actual situations and asides that kept me engaged. I flew through it and never got bored - even through the chapters I thought were going to be dense or not applicable to me.
I highly recommend this book to anyone involved in a family business - even tangentially. If you're interested in learning more about family businesses. It's worth the read. Seriously.
And most importantly, this book is highly readable. So many of these business books can become textbooks and the most boring, impractical load of junk. But not this one. Every chapter held my interest with stories and actual situations and asides that kept me engaged. I flew through it and never got bored - even through the chapters I thought were going to be dense or not applicable to me.
I highly recommend this book to anyone involved in a family business - even tangentially. If you're interested in learning more about family businesses. It's worth the read. Seriously.
June 25, 2023
Good intro book
This is a good introductory book for someone that needs broad knowledge about how to manage family businesses.
I liked the various conceptual frameworks the authors have developed, they were a useful way to structure my thinking. The book is enjoyable to read and provides good insights in simple language.
In the balance between breadth and depth, maybe I would have preferred fewer topics and a bit more depth in each.
The case studies presented are useful but at times a bit superficial, and the book would benefit from more examples of successful or unsuccessful family business management practices
This is a good introductory book for someone that needs broad knowledge about how to manage family businesses.
I liked the various conceptual frameworks the authors have developed, they were a useful way to structure my thinking. The book is enjoyable to read and provides good insights in simple language.
In the balance between breadth and depth, maybe I would have preferred fewer topics and a bit more depth in each.
The case studies presented are useful but at times a bit superficial, and the book would benefit from more examples of successful or unsuccessful family business management practices
April 29, 2021
I envy how these consultants can make any unstructured content pretty and pseudo-structured with diagrams and numbered points. Very impactful handbook though.
August 7, 2021
This book should be taught in all business schools.
Family businesses constitute a large percentage of global businesses, and some of the longest lasting companies in the world are family businesses.
But their dynamics are very different from public companies. Brothers, sisters and cousins (often multiple generations) working together bring in a lot of complexities. Family owners make the rules, so they can break them.
This book explains how to set up an effective management structure to facilitate decision making, information sharing, setting salaries and perks, preparing the next generation, and resolving conflict through installing structures in place such as family constitution, the four room model, employment policy and family office (among other great suggestions).
Every single problem mentioned, every family business is inevitably bound to face at one point or another. This is a bible on family business and a highly suggested book for any business owning family.
The book gives lots of examples, but I would have prefered if there were also a few detailed case studies in the end.
Family businesses constitute a large percentage of global businesses, and some of the longest lasting companies in the world are family businesses.
But their dynamics are very different from public companies. Brothers, sisters and cousins (often multiple generations) working together bring in a lot of complexities. Family owners make the rules, so they can break them.
This book explains how to set up an effective management structure to facilitate decision making, information sharing, setting salaries and perks, preparing the next generation, and resolving conflict through installing structures in place such as family constitution, the four room model, employment policy and family office (among other great suggestions).
Every single problem mentioned, every family business is inevitably bound to face at one point or another. This is a bible on family business and a highly suggested book for any business owning family.
The book gives lots of examples, but I would have prefered if there were also a few detailed case studies in the end.
February 12, 2021
This handbook is full of insights, practical advice, and comprehensive discussion on how to handle the challenges unique to family businesses. The authors shared their expertise on dealing with family members/owners as well as the non-family leaders.
This book also provided many pieces of wisdom in communicating within the family businesses.
This book is higjly recommended to those who have family businesses as well as those who work for them.
This book also provided many pieces of wisdom in communicating within the family businesses.
This book is higjly recommended to those who have family businesses as well as those who work for them.
February 23, 2024
What's the big idea and/or unique approach of this book?
Family businesses have unique situations and decisions they need to make. It's not just managing the relationships while working together, it's also things like how to pass on ownership (from even distribution to single person to two classes of stock) and how to deal with those who marry into the family and even how to deal with non-family executives.
The authors of this book cover a wide range of issues and share how others have tackled those situations.
How am I smarter, better, or wiser because of it?
Well, I actually knew all of these things because I've been advising high net worth family businesses for over 10 years. Even more, I have lived it. My wife and I are 3rd generation descendants of very sucessful business owners, both of whom failed to pass on anything to our generation. We are a part of the 97% of family businesses that don't make it past the 4th generation.
So, if you're new to family enterprises then this would introduce a bunch of new ideas to you. That's the best part of this book, making you aware of the different situations you will face.
Was I entertained/did it keep my attention?
It wasn't a very engaging read. And that's not just because I knew all the situations. It was written very simply. The stories were told very directly. So it was clear, but it wasn't dramatic.
Would I recommend it to others?
Biggest complaint of all, the advice they gave was weak when they even gave it. They said what the people in the example did and rarely offered any insights or direction beyond that. Maybe 20% of the time they had a clear recommendation. Those were obvious (avoid lying to the in-laws). And they never had a bigger principle behind the recommendations.
In summary, a decent overview of the situations and a poor guide on what to do in those situations.
Family businesses have unique situations and decisions they need to make. It's not just managing the relationships while working together, it's also things like how to pass on ownership (from even distribution to single person to two classes of stock) and how to deal with those who marry into the family and even how to deal with non-family executives.
The authors of this book cover a wide range of issues and share how others have tackled those situations.
How am I smarter, better, or wiser because of it?
Well, I actually knew all of these things because I've been advising high net worth family businesses for over 10 years. Even more, I have lived it. My wife and I are 3rd generation descendants of very sucessful business owners, both of whom failed to pass on anything to our generation. We are a part of the 97% of family businesses that don't make it past the 4th generation.
So, if you're new to family enterprises then this would introduce a bunch of new ideas to you. That's the best part of this book, making you aware of the different situations you will face.
Was I entertained/did it keep my attention?
It wasn't a very engaging read. And that's not just because I knew all the situations. It was written very simply. The stories were told very directly. So it was clear, but it wasn't dramatic.
Would I recommend it to others?
Biggest complaint of all, the advice they gave was weak when they even gave it. They said what the people in the example did and rarely offered any insights or direction beyond that. Maybe 20% of the time they had a clear recommendation. Those were obvious (avoid lying to the in-laws). And they never had a bigger principle behind the recommendations.
In summary, a decent overview of the situations and a poor guide on what to do in those situations.
October 20, 2021
I appreciated the numerous client examples given, but found the information to be a bit lacking for non-owner employees. Looking forward to more content published by the group.
August 12, 2024
Very good principals and practical ideas. Will listen to again
October 21, 2025
For anyone interested in family businesses, this is a great book to read and keep at hand. If family businesses aren’t of interest I would not recommend reading the Family Business Handbook.
September 24, 2021
practical information
Very practical and thought out book. Strongly recommend anyone in a family business setting (mostly owners) to give it a read.
Very practical and thought out book. Strongly recommend anyone in a family business setting (mostly owners) to give it a read.
November 21, 2024
It's a great book for people that will inherit their family company holding.
With the writer make multiple mentioned of different types of family companies, from the big corporation to the long running ones that have been run since I believe the medieval times.
With there being no clear way of doing the family company right, with every method is right, even the passive ones as long as you followed the method being provided inside the book to how to do it passively.
It may have been a bit general in some aspect, but there's some worthy advice to do it if you can look past it.
With the writer make multiple mentioned of different types of family companies, from the big corporation to the long running ones that have been run since I believe the medieval times.
With there being no clear way of doing the family company right, with every method is right, even the passive ones as long as you followed the method being provided inside the book to how to do it passively.
It may have been a bit general in some aspect, but there's some worthy advice to do it if you can look past it.
May 9, 2022
Well written, surprisingly engaging book about a topic I knew nothing about and one I thought I would find boring.
Kudos to the authors for a job well done.
Kudos to the authors for a job well done.
Displaying 1 - 13 of 13 reviews