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Family Business is seen as significant source for economic growth and development in today’s world. Family businesses have the potential to outperform any other form of business organization through their inherent synergies between capital and management. Family businesses are essentially people businesses and are the backbone of the world economy. They generate wealth, offer jobs, and exist for longer periods of time. A family business is a commercial organization in which management is a prime concern by multiple generations of a family. It is any type of business operation in which a group of relatives have controlling interest in the organization......More
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