Abstract
This chapter describes distinct characteristics of family enterprises that differentiate them from nonfamily businesses. Family members have multiple roles and historical relationships with each another that influence their attitudes, decision-making, and behaviors within their firm, their social networks, and with one another. Family firms typically are more motivated and have longer-term planning horizons, are longer existing and exhibit greater involvement with their local communities than nonfamily businesses, and tend to be more innovated.
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Kaslow, F.W., Friedland, L. (2021). Similarities and Differences Between Family and Nonfamily Business Enterprises. In: Consultation to Family Business Enterprises. Springer, Cham. https://doi.org/10.1007/978-3-030-72022-3_3
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DOI: https://doi.org/10.1007/978-3-030-72022-3_3
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