In the survey, nearly half the family businesses reported potentially dysfunctional conflict. It was how they dealt with it that made the difference between success and failure—not to mention family happiness versus interpersonal distress.
The report pinpoints specific traits that family businesses use to help reduce unhealthy conflict. Among them:
- Frequent communication
- Setting expectations
- Building a shared purpose and mission
- Developing unity through corporate social responsibility efforts
- Creating formal mechanisms for recognizing and resolving conflict
As we’ve long said, no business can or should flee from conflict, but instead mine it for its potential power to generate greatness.
We want to hear: Have you ever been part of a family business? How does your business address conflict and do you think it does so successfully? To join the conversation, click "comments" below on our Community of Practice Forum.
If you would like to read more about creating a habit around masterful communication, check out our book: Be Quiet, Be Heard: The Paradox of Persuasion