The role of independent directors in a successful family business

A thriving family business generally owes its success to family members who have devoted themselves to the enterprise. No one else has as much invested, either financially or psychologically, in the long-term success of the business as they have. So why should the family consider bringing in outsiders to serve as directors? After all, the family understands the business and the dynamics among family members (and family branches) better than anyone else could.

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