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In harmony >Yeadq Zmkaf]kk [g`]kagf Yf\ hjgÕlYZadalq AfalaYd Õf\af_k ^jge l`] _dgZYd kmjn]q g^ l`] ogjd\Ìk dYj_]kl ^Yeadq Zmkaf]kk]k

In Harmony: Family Business Cohesion And Profitability

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In Harmony: Family Business Cohesion And Profitability

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Page 1: In Harmony: Family Business Cohesion And Profitability

In harmony>Yeadq�Zmkaf]kk�[g`]kagf�Yf\�hjgÕlYZadalqAfalaYd�Õf\af_k�^jge�l`]�_dgZYd�kmjn]q�g^�l`]�ogjd\Ìk�dYj_]kl�^Yeadq�Zmkaf]kk]k

Page 2: In Harmony: Family Business Cohesion And Profitability

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>Yeadq�Zmkaf]kk]k�j]eYaf�l`]�ogjd\Ìk�][gfgea[�ZY[cZgf]&�L`]aj�]f\mjaf_�]flj]hj]f]mjaYd�khajal�k`gmd\�Z]�j][g_far]\$�[]d]ZjYl]\�Yf\�kmhhgjl]\&�

=Q�Yf\�C]ff]kYo�KlYl]�Mfan]jkalqÌk�;gp�>Yeadq�=fl]jhjak]�;]fl]j�Yj]�\]da_`l]\�lg�hj]k]fl�l`]�Õjkl%]n]j�_dgZYd�kmjn]q�g^�alk�caf\�g^�l`]�ogjd\Ìk�dYj_]kl�^Yeadq�Zmkaf]kk]k&�Al�g^^]jk�Y�mfaim]�dggc�Yl�l`]�hjY[la[]k$�[`YjY[l]jakla[k�Yf\�km[[]kk�^Y[lgjk�g^�)$(((�g^�l`]�dYj_]kl�Yf\�egkl�km[[]kk^md�^Yeadq�Zmkaf]kk]k�^jge�egj]�l`Yf�*(�[gmflja]k�Yjgmf\�l`]�_dgZ]&�

O]�fYe]\�l`ak�j]hgjl�Af�`Yjegfq2�^Yeadq�Zmkaf]kk�[g`]kagf�Yf\�hjgÕlYZadalq because of o`Yl�o]�^gmf\�af�gmj�kmjn]q2�l`]�^Yeadq�Zmkaf]kk]k�l`Yl�Yj]�^g[mk]\�gf�klj]f_l`]faf_�l`]aj�^Yeada]k�Yk�o]dd�Yk�_jgoaf_�l`]aj�Zmkaf]kk]k�Yj]�l`]�ogjd\Ìk�egkl�km[[]kk^md&

Gmj�_gYd�af�[gf\m[laf_�l`ak�kmjn]q�oYk�lg�YfYdqr]�Yf\�]phdgj]�o`Yl�l`]�ogjd\Ìk�dYj_]kl�^Yeadq�Zmkaf]kk]k�Yj]�\gaf_�fgo�Yf\�af�hj]hYjYlagf�^gj�l`]�^mlmj]&�In harmony: family

Zmkaf]kk�[g`]kagf�Yf\�hjgÕlYZadalq�ak�l`]�Õjkl�g^�eYfq�j]hgjlk�o]�oadd�Z]�j]d]Ykaf_�ZYk]\�gf�gmj�afl]jna]ok&�O]�]ph][l�l`]�afka_`lk�a\]flaÕ]\�`]j]$�Yf\�af�Ydd�^mlmj]�j]hgjlk$�oadd�`]dh�^Yeadq�Zmkaf]kk]k�km[[]]\�^gj�_]f]jYlagfk&�

O]�ogmd\�dac]�lg�l`Yfc�C]ff]kYo�KlYl]�Mfan]jkalqÌk�Lgjkl]f�E&�Ha]h]j$�H`<$�o`g�oYk�afkljme]flYd�af�`]dhaf_�lg�\]n]dgh�l`]�afka_`lk�mf[gn]j]\�\mjaf_�l`]�klm\q&�O]�]pl]f\�Y�kh][aYd�fgl]�g^�l`Yfck�lg�l`]�^Yeadq�Õjek�l`Yl�j]khgf\]\�lg�l`]�im]klagffYaj]�Yf\�k`Yj]\�l`]aj�af^gjeYlagf�Yf\�l`gm_`lk�oal`�gmj�j]k]Yj[`]jk&

Joe Astrachan, PhDO]ddk�>Yj_g�=eaf]fl�K[`gdYj� ;`Yaj�g^�>Yeadq�:mkaf]kkHjg^]kkgj�g^�EYfY_]e]fl� Yf\�=flj]hj]f]mjk`ah;gp�>Yeadq�=fl]jhjak]�;]fl]j�Yl� l`]�;gd]k�;gdd]_]�g^�:mkaf]kkC]ff]kYo�KlYl]�Mfan]jkalq

Carrie HallHYjlf]j� EY Americas Family :mkaf]kk�D]Y\]j

Page 3: In Harmony: Family Business Cohesion And Profitability

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>g[mk�gf�l`]�^Yeadq�\g]kfÌl�\jYaf�business success — al�]f`Yf[]k�al&

Joe Astrachan, Professor of Management and Entrepreneurship, Kennesaw State University

KlYf\�lg_]l`]j�gj�^Ydd� YhYjl�È�l`]�aehgjlYf[]�g^�cohesion in family businessKge]�Z]da]n]�qgm�emkl�kY[jaÕ[]�^Yeadq�j]dYlagfk`ahk�^gj�km[[]kk�af�Y�^Yeadq�Zmkaf]kk&�:ml�af�^Y[l$�^g[mk�gf�l`]�^Yeadq�\g]kfÌl�\jYaf�Zmkaf]kk�km[[]kk�È�al�]f`Yf[]k�al&�L`Yl�ak�gf]�c]q�Õf\af_�g^�gmj�f]o�_dgZYd�^Yeadq�Zmkaf]kk�kmjn]q&�O]�fgo�`Yn]�[geh]ddaf_�]na\]f[]�l`Yl�l`]�dYj_]kl�Yf\�dgf_]kl%dYklaf_�^Yeadq�Zmkaf]kk]k�af�l`]�ogjd\�Z][Ye]�È�Yf\�j]eYaf�È�km[[]kk^md�Zq�ghlaearaf_�Zgl`�^Yeadq�[g`]kagf�Yf\�hjgÕlYZd]�Zmkaf]kk�_jgol`&�9f\�a^�lgg�em[`�^g[mk�ak�hdY[]\�gf�gf]�gn]j�l`]�gl`]j$�Zgl`�eYq�km^^]j&�O]Ìn]�Ydkg�Z]]f�YZd]�lg�hafhgafl�log�c]q�Y[lanala]k�l`Yl�[gfljaZml]�ea_`ladq�lg�^Yeadq�[g`]kan]f]kk2�kmklYafYZadalq�Yf\�^Yeadq�Zmkaf]kk�ZjYf\af_&�L`]�j]kmdlk�Yj]�Y�^Yeadq�Zmkaf]kk�Yf\�Y�^Yeadq�l`Yl�Yj]�`]Ydl`q$�km[[]kk^md�Yf\�^g[mk]\�gf�l`]�^mlmj]�È�af[dm\af_�hj]hYjaf_�l`]�f]pl�_]f]jYlagf�lg�]fl]j�l`]�Zmkaf]kk&�

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Page 4: In Harmony: Family Business Cohesion And Profitability

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Page 5: In Harmony: Family Business Cohesion And Profitability

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Figure 1: For each of the following advisors, please rate the degree of trust you have in them.

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Page 6: In Harmony: Family Business Cohesion And Profitability

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Figure 2: Please rate the extent to which you agree or disagree with each of the following statements. Members of this family ...

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Page 7: In Harmony: Family Business Cohesion And Profitability

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Figure 3: About what is your ROE?

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Page 8: In Harmony: Family Business Cohesion And Profitability

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Page 9: In Harmony: Family Business Cohesion And Profitability

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Page 10: In Harmony: Family Business Cohesion And Profitability

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Page 11: In Harmony: Family Business Cohesion And Profitability

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Page 12: In Harmony: Family Business Cohesion And Profitability

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Figure 8: Why do you promote your family as part of your branding efforts?

Page 15: In Harmony: Family Business Cohesion And Profitability

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Figure 9: What generation are you?

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Figure 10: How long do you require family members to work outside the business before joining the family business?*

Figure 11: Who has primary responsibility for succession planning?

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Figure 12: How important are the following in educating and preparing the younger generation to join your family business?

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Page 19: In Harmony: Family Business Cohesion And Profitability

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