KENNESAW, Ga. | Jul 1, 2016

 

Excerpt of Article: Gaia Marchisio, executive director of the Cox Family Enterprise Center in KSU's Coles College of Business, offered advice in a Cobb in Focus article about family businesses.
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Experts say that anyone involved in a family business should consider some vital key points.

Marchisio suggests focusing on the management side: basing hiring decisions on the needs of the company, making sure everyone understands that being an owner is a big responsibility and always considering the quality of relationships in the family.

"There's a big difference in whether the business is owned and managed by family members or simply owned by the family," she said. "Unless these ownership and management issues are determined in advance, it can be a disaster."