TM4

Question 1

What are the 4 levels of conflict in family businesses?

Answer 1

1. Intrapersonal (internal role conflict).
2. Interpersonal (between individuals, e.g., siblings).
3. Intragroup (within the family/management).
4. Intergroup (family vs. non-family stakeholders).

Question 2

The 5 conflict resolution styles.

Answer 2

1. Avoidance
2. Domination
3. Accomodation
4. Compromise
5. Integration

Question 3

What are the 5 unique resources in family firms?

Answer 3

1. Financial: Patient capital (long-term loans from family).
2. Human: Tacit knowledge (e.g., founder’s expertise).
3. Social: Trust-based networks.
4. Physical: Unique assets (e.g., heritage locations).
5. Reputation: Brand tied to family name.

Question 4

How can tradition drive innovation?

Answer 4

By combining:
Past knowledge WITH
Modern tech

Question 5

How should family firms balance paradoxes?

Answer 5

Integrate opposites:

Tradition + Innovation.
Family harmony + Business meritocracy.
Tool: Separate forums (family vs. board meetings).

Question 6

Compare traditional vs. complementary Conflict Resolution Techniques

Answer 6

Traditional: Structural fixes (e.g., move sibling to another department).

Complementary: Mediation, coaching, team-building.

Question 7

What are the 4 key brand ingredients?

Answer 7

1. Tradition (e.g., “Since 1890”).
2. Trust (e.g., “Family-made quality”).
3. Quality (premium positioning).
4. Personal relationships (e.g., owner meets customers).