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Family Strategies and Management of the Dynastic Business Family

In: Managing Business Family Dynasties

Author

Listed:
  • Tom A. Rüsen

    (Witten/Herdecke University)

  • Heiko Kleve

    (Witten/Herdecke University)

  • Arist von Schlippe

    (Witten/Herdecke University)

Abstract

Much of the content of the family strategy of small and medium-size business families has long since been resolved by dynastic business families, who face completely different tasks and challenges. Through established structures, it is important to counteract centrifugal dynamics so that identification, bonding and motivation can always be renewed within the large family network. At the same time, communication in these large families follows a more “political” network logic and less of a family logic based on bonding. Successful family management takes this difference into account and is organised according to the logic of a family investor relations unit. However, dealing professionally with different interest groups also requires the different wishes of the various family members to be balanced, regarding participation, communication and development opportunities, and transferred into structured processes. The structural logic of the dynastic business family implies a specific type of family management, with a “chancellor” rather than a “patriarch/matriarch” or “boss”.

Suggested Citation

  • Tom A. Rüsen & Heiko Kleve & Arist von Schlippe, 2021. "Family Strategies and Management of the Dynastic Business Family," Management for Professionals, in: Managing Business Family Dynasties, chapter 9, pages 101-113, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-030-82619-2_9
    DOI: 10.1007/978-3-030-82619-2_9
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