Family firms face a unique set of challenges when it comes to governance. On the one hand, they need to ensure that the business is run in a professional and efficient manner. On the other hand, they need to take into account the fact that family members may have different interests and priorities. There is no one-size-fits-all approach to governance in family businesses. However, there are some general principles that can be followed.
As part of the 2022 Global Family Business Summit organised by Family Business United, Paul Andrews is joined by John Harte from Integrity Governance to discuss the role of governance in family firms. As john explains,
Corporate Governance should be all about how a family business brings their purpose to life and in this session explores how it can be used as an asset to help ensure the business is fit for the future and what steps a business can take to ensure that governance is a key tool to help drive the business forward.