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Corporate Governance in Family Owned Companies
- Strengths and weaknesses of family owned companies
- How will they organize for growth
- Inclusion of non-family, independent directors
- Sharing power with more formal systems
- Criteria for recruitment and promotion
- Succession planning
- How to develop family charter
- How to challenge the deeply rooted early strategies
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Challenges of Sustainability in Family Owned
Companies
Lack of a family charter
No succession planning
Failure to implement
the decisions
Rapid decision-rapid refrain
Unregistered labor
Overlooking vital aspects by going into
unnecessary details
Lack of long term,
strategic plans
Only tax accounting practices
Inadequate financial vision
Lack of adequate internal auditing and internal
control mechanisms
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Corporate
