Self-Perpetuation Family Organization Built on Values: Necessary Condition for Long-Term Family Business Survival

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Family businesses have long been conceptualized in terms of overlapping and interacting management, ownership, governance, and family systems. As family businesses evolve and develop across generations, observing progress in each of the requisite systems presents a variety of challenges. This article demonstrates the importance of family organization to the systems of management, ownership, governance, and family as a family business evolves over time.