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  • All HBS Web  (4,728)
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  • March 19, 2015
  • Article

Dealing with the Unique Work-Life Challenges of Family Businesses

By: Josh Baron and Rob Lachenauer
Maintaining a work-life balance in family businesses can be challenging. The extremes of being "all in" or "all out" are unproductive. The article highlights the importance of setting boundaries, separating family time from work time, using effective communication,... View Details
Keywords: Family Business; Work-Life Balance
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Baron, Josh, and Rob Lachenauer. "Dealing with the Unique Work-Life Challenges of Family Businesses." Harvard Business Review (website) (March 19, 2015).
  • November 2024
  • Case

Planning for the Brown Family

By: Sara Fleiss, Emily R. McComb and Josh Radman
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Fleiss, Sara, Emily R. McComb, and Josh Radman. "Planning for the Brown Family." Harvard Business School Case 225-048, November 2024.
  • July 2025
  • Technical Note

Note for the Rising Generation of Family Enterprises

By: Christina R. Wing and Kara A. Perusse
This note explores how Rising Gens prepare for stewardship: what they must learn, how they can grow, and what tools can support their development. Drawing from diverse family enterprise contexts, it maps the stages of Rising Gen engagement and highlights what enables... View Details
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Wing, Christina R., and Kara A. Perusse. "Note for the Rising Generation of Family Enterprises." Harvard Business School Technical Note 626-008, July 2025.
  • February 2009 (Revised April 2011)
  • Course Overview Note

Growing, Financing, and Managing Family and Closely Held Firms

By: Belen Villalonga
This note provides instructors with an overview of the course, its module structure and its unifying framework. The note contains information that should only be available to instructors, and should not be distributed to students. A shorter version of the note for... View Details
Keywords: Family Business; Corporate Finance
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Villalonga, Belen. "Growing, Financing, and Managing Family and Closely Held Firms." Harvard Business School Course Overview Note 209-006, February 2009. (Revised April 2011.)
  • July 19, 2021
  • Article

Do Most Family Businesses Really Fail by the Third Generation?

By: Josh Baron and Rob Lachenauer
Perhaps the most commonly-cited statistic about family businesses is their failure rates. Most articles or speeches about family businesses start with some version of the “three-generation rule,” which suggests that most don’t survive beyond three generations. But that... View Details
Keywords: Family Business; Success; Perception
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Baron, Josh, and Rob Lachenauer. "Do Most Family Businesses Really Fail by the Third Generation?" Harvard Business Review (website) (July 19, 2021).
  • February 3, 2020
  • Article

Should Your Family Business Have a "No In-Laws" Policy?

By: Christina R. Wing and Rohit K. Gera
Should in-laws, even if they’re highly qualified, work in the family business? While there’s no “one-size-fits-all” guideline, if you are considering involving in-laws in the family business, it’s important to think through some general policies in advance. Document a... View Details
Keywords: Family and Family Relationships; Family Business; Employee Relationship Management; Organizational Structure
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Wing, Christina R., and Rohit K. Gera. Should Your Family Business Have a "No In-Laws" Policy? Harvard Business Review (website) (February 3, 2020).
  • July 2024 (Revised March 2025)
  • Technical Note

Note on Working with Relatives in the Family Enterprise

By: Christina R. Wing and Hillary B Sieber
This note delves into the intricacies of working with relatives, offering insights and strategic recommendations for navigating the opportunities and complexities inherent in such environments. This note will cover common challenges, best practices and key governance... View Details
Keywords: Family and Family Relationships; Governance Controls; Family Business; Business or Company Management
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Wing, Christina R., and Hillary B Sieber. "Note on Working with Relatives in the Family Enterprise." Harvard Business School Technical Note 625-034, July 2024. (Revised March 2025.)
  • March 2023
  • Case

Between Two Minds: The Staglin Family

By: Lauren Cohen, Ronnie Stangler and Grace Headinger
Garen Staglin, Founder and Chairman of One Mind, reflected on his life’s work in brain health. As he contemplated stepping down in the next few years, he weighed how to pass along this legacy to his son, Brandon Staglin, the impetus behind and next generation of the... View Details
Keywords: Nonprofit Organizations; Well-being; Management Succession; Family Ownership; Mission and Purpose; Health Industry
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Cohen, Lauren, Ronnie Stangler, and Grace Headinger. "Between Two Minds: The Staglin Family." Harvard Business School Case 223-053, March 2023.
  • February 1995
  • Case

The Ivanovas: A Family Business

By: Ray A. Goldberg, Ralph Hoagland and Marina Paltseva
Keywords: Family Business
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Goldberg, Ray A., Ralph Hoagland, and Marina Paltseva. "The Ivanovas: A Family Business." Harvard Business School Case 595-086, February 1995.
  • February 2009 (Revised June 2010)
  • Background Note

Note on Valuing Control and Liquidity in Family and Closely Held Firms

Most companies around the world are family controlled and/or closely held. The need to value these companies routinely arises in practice for a variety of reasons, e.g., to buy out minority shareholders; for gift and estate tax purposes; to tie executive compensation... View Details
Keywords: Family Business; Financial Liquidity; Governance Controls; Valuation
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Villalonga, Belen. "Note on Valuing Control and Liquidity in Family and Closely Held Firms." Harvard Business School Background Note 209-104, February 2009. (Revised June 2010.)
  • January 2014 (Revised June 2014)
  • Case

Advising Families on Estate Planning

By: Robert C. Pozen and Lucas W. Goodman
Sean Warrick is an estate planning adviser at Hellwig & Macon. He is preparing for meetings with two clients. His first clients are Peggy and David Bartley, a professional married couple of moderate wealth. His second clients are Ray and Michelle Polanski, a couple... View Details
Keywords: Estate Planning; Estate Tax; Gift Tax; Generation Skipping Tax; Tax Accounting; Tax Strategy; Taxes; Taxation; Retirement; United States
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Pozen, Robert C., and Lucas W. Goodman. "Advising Families on Estate Planning." Harvard Business School Case 314-088, January 2014. (Revised June 2014.)
  • February 2014
  • Teaching Note

Advising Families on Estate Planning

By: Robert C. Pozen
Sean Warrick is an estate planning adviser at Hellwig & Macon. He is preparing for meetings with two clients. His first clients are Peggy and David Bartley, a professional married couple of moderate wealth. His second clients are Ray and Michelle Polanski, a couple... View Details
Keywords: Estate Planning; Estate Tax; Gift Tax; Gift Giving; Generation Skipping Tax; Tax Accounting; Tax Strategy; Taxes; Taxation; Retirement; Financial Services Industry; United States
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Pozen, Robert C. "Advising Families on Estate Planning." Harvard Business School Teaching Note 314-089, February 2014.
  • October 23, 2013
  • Article

Banyan Family Business Advisors On The Keys to Long-Term Resilience

By: Josh Baron and Rob Lachenauer
Family businesses have been found to excel in resilience during economic downturns compared to publicly-traded ones. This is attributed to their focus on resilience over performance. Key qualities of resilient family firms include managing low debt, practicing... View Details
Keywords: Performance Consistency; Economic Slowdown and Stagnation; Family Ownership; Family Business; Values and Beliefs; Business Strategy
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Baron, Josh, and Rob Lachenauer. "Banyan Family Business Advisors On The Keys to Long-Term Resilience." Family Wealth Report (October 23, 2013).
  • Article

How Are U.S. Family Firms Controlled?

Keywords: Family Business; United States
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Villalonga, Belen, and Raphael Amit. "How Are U.S. Family Firms Controlled?" Review of Financial Studies 22, no. 8 (August 2009): 3047–3091. (Previously titled "Benefits and Costs of Control-enhancing Mechanisms in U.S. Family Firms." Winner of the ECGI - Standard Life Investments Finance Prize and the Family Firms Institute Best Unpublished Research Award.)
  • summer 1996
  • Article

Bivalent Attributes of the Family Firm

By: J. A. Davis and R. Tagiuri
Keywords: Family Business
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Davis, J. A., and R. Tagiuri. "Bivalent Attributes of the Family Firm." Family Business Review (summer 1996).
  • 2021
  • Book

Harvard Business Review Family Business Handbook: How to Build and Sustain a Successful, Enduring Enterprise

By: Josh Baron and Rob Lachenauer
Navigate the complex decisions and critical relationships necessary to create and sustain a healthy family business--and business family. Though "family business" may sound like it refers only to mom-and-pop shops, businesses owned by families are among the most... View Details
Keywords: Family Business; Entrepreneurship; Family and Family Relationships; Outcome or Result; Business Model; Conflict and Resolution; Organizational Culture
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Baron, Josh, and Rob Lachenauer. Harvard Business Review Family Business Handbook: How to Build and Sustain a Successful, Enduring Enterprise. Harvard Business Review Press, 2021.
  • December 1996
  • Case

Family Assistance Plan, The (A)

By: Bruce R. Scott and Paul Bastone
Keywords: Welfare or Wellbeing
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Scott, Bruce R., and Paul Bastone. "Family Assistance Plan, The (A)." Harvard Business School Case 797-065, December 1996.
  • April 12, 2024
  • Editorial

A New Paradigm for Family Giving

By: Christina R. Wing
Keywords: Family Business; Philanthropy and Charitable Giving; Wealth
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Wing, Christina R. "A New Paradigm for Family Giving." Crain Currency (April 12, 2024).
  • July 9, 2013
  • Article

Why Fights Erupt in Family Businesses

By: Josh Baron and Rob Lachenauer
Lack of boundaries and formal structure create potential for nasty (and lasting) disagreements. View Details
Keywords: Family Business; Conflict and Resolution; Organizational Structure
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Baron, Josh, and Rob Lachenauer. "Why Fights Erupt in Family Businesses." Harvard Business Review (website) (July 9, 2013).
  • November 1999 (Revised February 2002)
  • Case

Family Feud (A): Andersen v. Andersen

By: Ashish Nanda and Scot H. Landry
Traces the history and development of consulting within Andersen and the history of the schism between Arthur Andersen and Andersen Consulting. Ends with the two units seeking external arbitration of their dispute. View Details
Keywords: Organizational Design; Corporate Governance; Conflict and Resolution; Consulting Industry
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Nanda, Ashish, and Scot H. Landry. "Family Feud (A): Andersen v. Andersen." Harvard Business School Case 800-064, November 1999. (Revised February 2002.)
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