5 Pesky Plights Hurt a Family Business: The Bubble
I recently returned from my college reunionâ¦ swept back in time to the days when living in my college bubble was a secure yet liberating environment. Those were happy personal times â times of discovery, growth, socialization, and empowerment. Based on my experience working with âstuckâ companies, executives caught in a company bubble might not be having as much fun. Operating in a company bubble suggests you are isolated, cut off from outside perspectives. Is your company operating in a bubble? This is Part 4 in my multi-part series that explains how 5 particularly disabling conditions can exacerbate family business underperformance. If there is a weak independent board of directors/advisors, or one doesnât exist, then governance and decision-making at the top of a family owned company is concentrated and insulated. Due to the historical, generational ownership structure, there is a tendency that a family business could be prone to operate in its own unique bubble. If this is the case, does the addition of weak governance to the mix cause a family company to live in a double bubble?