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Family business administration

A UNIQUE SPECIALITY

Business Administration is a collective term for many different fields of expertise used in trade and industry to ensure businesses operate properly. A practitioner or educator in the field of business administration is familiar with several fields, such as strategy, marketing, internal organisation, financial management and staff management. In the past decade, business administrators have started to realise that there is an essential difference between two categories of businesses, namely family businesses and non-family businesses. The family business is distinctive from the non-family businesses owing to the specific roles of ownership and control. These depend on the way a family wants to shape its relationship with the business. A crucial aspect is that this determines the family’s involvement and therefore the family’s influence on the business from different possible roles (owner, executive employee, non-executive employee, supervisor). Family members need to organise their cooperative relationships in these different roles. In addition, wider family relationships can informally and indirectly influence the formal cooperation of the family members. This gives the family business both its strength and its weakness. The family can be a resource as well as a threat to the business. In a nutshell, family matters in a family business.

The family business administrator’s eye is on the position, influence and development of the family with respect to the business. This perspective is not to separate the family from the business, but to make a distinction between them. More precisely, this distinction can achieve a good connection between the two, a connection necessary for the healthy running of the business. A good connection can only be achieved based on the recognition that developments within the family and the business are relevant to both sides and that both sides anticipate these developments in time. This requires sound strategic acumen and a thorough administrative organization in which the family holds a prominent position.

This is precisely what makes family business administration a fascinating field. The family’s influence has specific consequences for classic business administrative matters in all speciality fields. Over the past decade, Fambusco Resources has acquired the expertise to provide insights into these consequences to the benefit of both professional services and the field of education. This website will show you how this can be beneficial to you as a professional service provider or educational establishment.