何为最佳家族企业规划.doc

本科毕业论文（设计） 外 文 翻 译 原文： Why the best family businesses plan Family businesses are often seen as dysfunctional, prone to nepotism and family conflict. Even in the business press, the family business model is often portrayed as outmoded or problematic. Recent research, however, has shown that family businesses outperform public companies on key dimensions such as stock price and return on equity. How do you explain this disparity? Our work as researchers, teachers and consultants suggests that family business can be indeed be the best and the worst: the best because they have some particular strengths (long term vision, strong values, committed owners); the worst, because they are more complex than other businesses, and they require more attention, better planning and governance--which they do not always receive. While the principles and benefits of strategic planning for businesses are well recognized, the idea of strategy for the family business is less well understood. Typically, family businesses have sound strategies for their businesses, but planning for the family is mostly neglected or driven by conflicts that need to be resolved. Indeed, in our experience, many business families do not appreciate the value of planning or are afraid of the emotional minefields that such planning may expose. Many fear that the process itself may raise questions that no amount of planning can resolve. We argue that a lack of planning for the family is a serious threat to sustaining the family’s commitment, which is an important competitive advantage of family-controlled firms. The commitment of the founder-entrepreneur to all aspects of the business naturally diminishes with each subsequent generation, as the family expands and a separation of management and ownership roles occurs. It is predictable, but often surprising to a family in the second or third generation, that they should face a new set of family and ownership challenges: how to share ownership among a growing numb