Year: 2022
Type: article
Abstract: The analysis of leadership and governance in Ecuadorian family businesses shows that they face significant challenges in generational succession and the management of family dynamics. Founders' resistance to change and lack of structured succession planning are key obstacles that increase the risk of internal conflicts and compromise the stability of the company. Personal relationships and family conflicts also negatively affect decision making, generating tensions and suboptimal decisions. However, the implementation of effective governance practices, such as the inclusion of independent directors, the professionalization of management and the creation of family committees, can significantly improve these aspects. These practices not only facilitate conflict resolution and strengthen communication, but also contribute to greater family stability and cohesion, ensuring the long-term sustainability and success of family businesses in Ecuador
Source: Revista Científica Zambos.
Author: Gustavo Gabriel Hermosa-Vega
Institution: Central University of Ecuador
Language: English
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4401831540