Family Business Management

9.

Conflict Resolution

9.1.

Sources of Conflict in Family Firms

9.1.1.

9.1.1.1.

Overlapping Responsibilities

9.1.1.2.

Unclear Authority

9.1.2.

Compensation Disparities

9.1.2.1.

Perceived Inequities

9.1.2.2.

Performance vs. Family Status

9.1.3.

Succession Disputes

9.1.3.1.

Competing Claims

9.1.3.2.

Timing Disagreements

9.1.4.

Differing Visions

9.1.4.1.

Strategic Direction

9.1.4.2.

9.1.5.

Generational Differences

9.1.5.1.

Values and Priorities

9.1.5.2.

Communication Styles

9.2.

Conflict Management Styles

9.2.1.

9.2.2.

9.2.3.

9.2.4.

9.2.5.

9.3.

Formal Conflict Resolution Mechanisms

9.3.1.

9.3.1.1.

Process and Benefits

9.3.1.2.

Mediator Selection

9.3.2.

9.3.2.1.

Procedures and Outcomes

9.3.2.2.

Binding vs. Non-binding

9.3.3.

The Role of the Board or Family Council

9.3.3.1.

Facilitating Dialogue

9.3.3.2.

Enforcing Agreements

9.3.3.3.

Neutral Oversight

9.4.

Building a Conflict-Positive Culture

9.4.1.

Encouraging Open Dialogue

9.4.2.

Training in Conflict Resolution

9.4.3.

Learning from Disputes

9.4.4.

Prevention Strategies

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10. The Next Generation