Common Causes of Family Business Conflict & What to Do About Them.
Family Business Mediation Video No 39. Ownership Vs Stewardship
By Jon Kenfield. Solutionist.
• Ownership entitles business owners to do whatever they like with the business.
• Ownership is here and now / short term, selfish thinking.
• Stewardship requires owners to hold and improve the business for the sake of current and future generations.
• Stewardship has a long term, altruistic focus.
• Conflict arises when some family members regard themselves as owners, and want to act as such, while others see themselves as stewards, and want to act as such.
• Hold a Family meeting.
• Explain the difference between Owners and Stewards and ask everyone to identify which camp they’re in.
• Develop a long term Family Plan, including intentions for the business, based on above decisions.
• Defuse conflict by recognising the different focus and responding to whichever is chosen for the family.