Natural Family Business Governance

Family business governance is often thought of as a set of formal policies and structures that every family business should adopt. This is misleading. This book introduces the concept of Natural Governance to explain how family businesses are actually governed effectively using a combination of informal and formal processes. Family business governance is often thought of as a set of formal policies and structures that every family business should adopt. This is misleading. This book introduces the concept of Natural Governance to broaden the debate and explains how family businesses are actually governed effectively using a combination of informal and formal processes. Written by Ken McCracken, who has worked as an adviser to family business over many years and gained significant insight, the book provides a framework to describe and sustain Natural Governance, and challenges some popular views about how family businesses should, or do in practice, behave and progress. It describes the more informal governance practices and processes that first emerge spontaneously in a family business, which are sustained by the natural inclination of a family business to move forwards by doing more of what has worked well in the past while trying to avoid repeating previous mistakes. This book is an essential read for any member of a family business, as well as all professionals who provide services to family businesses. It will also interest researchers and teachers who want to explore this neglected area of family business governance.