A family owned firm's board faces the sometimes daunting challenge of achieving the proper balance between monitoring and collaboration to minimize the emotionality and overlapping roles that often characterize such firms.

Question

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Family-owned firms often struggle with the balance between monitoring and collaboration, and the emotions and overlapping roles that can arise in such an environment. The board plays a crucial role in managing these challenges.

A Family Owned Firm's Board Faces the Sometimes Daunting Challenge