Chaper 1: Which to Choose: Family or Business

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In Chapter 1 Which to Choose: Family or Business, the authors begin by explaining how the family system and the business system typically have the different sets of norms, beliefs, and values. They then explain why families still choose to go into business even if it could potentially cause friction within the family. For some business they choose to make decisions based on the family while others choose to make decisions based on the business. The authors suggest that there should be a healthy balance between the two. When the decisions are one side the opposing side suffers, so the leaders of the business must be cognizant of how their choices will impact the family and the family business.
The concept that really stands out in Chapter 1 is the Enterprising Family. According to the authors, “an enterprising family is one that integrates a family-first and business first orientation. It achieves a unique competitive advantage by building both its capacity and capability to manage paradoxes.” (Schuman, A., Stutz, S., & Ward, J.L. 2012, p. 24) The authors then suggested that he i...

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