"Family-owned and managed firms are often beset by a variety of crises that can impact the firm's very survival. These may include changes in technology, deaths of critical family members, competition within an industrial sector, shifts in market dynamics and product mixes, economic turmoil,...

Businesses owned and operated by families constitute the vast majority of firms around the world. These firms are found in all industrial segments, from retail and service establishments to heavy manufacturers. Their sizes and revenues range from the smallest venture of a husband and wife...