03 February 2017 13:46:00 IST

Saving a family business from emotional dysfunction

It's important to stay focused on the issue rather than the feeling

When it comes to family businesses, things can get messy sometimes. Difference in opinion, generation gaps, technology can all play a role in creating discord. And since it's your family, emotional baggage is inevitable.

According to this article in Harvard Business Review , families control about 85 per cent of the large businesses in Southeast Asia, and 65 per cent to 75 per cent of large businesses in the Middle East, Latin America, and India. So when dealing with complicated, emotional situations it's important to stay focused on the issue at hand rather than the emotions driving us. The author also suggests other ways to better relations and stay professional. Click to read more.