Business and Personal Relationships: Can Family Business Ruin a Family?

Last modified: December 13, 2022
Estimated reading time: 1 min
Project Title: Business and Personal Relationships. Can Family Business Ruin a Family?
Author: LingShan Li
Advisor: Dr. Tanakorn Limsarun
Degree: Master of Business Administration (International Program)
Major: Marketing Management
Faculty: Graduate Schools
Academic year: 2022
Url:
Published:
Conference Proceedings
Crises and Opportunities Management Conference International (COMCI) 2022, September 7th, 2022 at Southeast Bangkok College

Citation

LingShan Li. (2022). Business and personal relationships: Can family business ruin a family?. (Master’s independent study). Bangkok: Siam University.


Abstract

Family businesses have reached the pinnacle of entrepreneurship as a significant component of private businesses. Family members’ capacity to avoid pertinent problems in advance when they get along with each other in the family and business determines the stability and sustained development of family enterprises. This article gathered and analyzed literature on family businesses and relationships using data from the Google database, gaining an understanding of the most recent research findings, the current state of affairs, and cutting-edge developments in this area.In order to evaluate and analyze the actual situation of family members in businesses and families, as well as, the impact of family members in family enterprises on businesses and families, this paper compiled, summarized, and searched the public information of sibling rivalry conflict, parent–offspring conflict, and spouse conflict in family enterprises. It then drew pertinent conclusions and suggests ways to improve the situation.From a practical standpoint, the family members of family businesses can use this document as a guide to help prevent disputes in the future.

Keywords: business relationships, personal relationships, family business.


Business and Personal Relationships: Can Family Business Ruin a Family?

Master of Business Administration (International Program), Siam University, Bangkok, Thailand

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