November/December 2014 Openers

A survey of family businesses in Western Michigan found that family firms in the region are highly committed to their employees, to philanthropic giving and to keeping their companies in the family. Yet despite this commitment, most of these companies lack formal policies to help perpetuate the family values and ensure a smooth generational transition.

The study was a collaborative effort of the Seidman College of Business at Grand Valley State University and the Haworth College of Business at Western Michigan University. Academics and professionals at the two universities plus the Family Business Alliance of Grand Rapids helped develop the survey questions. Laurel Ofstein, an assistant professor of management at Western Michigan University, analyzed the data.

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About the Author(s)

Barbara Spector

Barbara Spector is Family Business Magazine's editor-at-large.


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