Entrepreneur Magazine

Managing Your Critical Operations

If you own a family business, you probably worry even more than the average entrepreneur about ensuring that your company not only survives, but also thrives to nurture the next generation. In “Managing Resources: Linking Unique Resources, Management, and Wealth Creation in Family Firms” (Entrepreneurship Theory and Practice, Summer 2003), David Sirmon and Michael Hitt examined the strategies behind successful family businesses. By David Newton, professor of entrepreneurial finance at Westmont College in Santa Barbara. more