I grew up in a family business in South Africa (Bianchi Hotels [Pty] Ltd.) and have dedicated my entire life to family business. Family businesses make up between 70% and 92% of all businesses worldwide, varying between different cultures and countries. Nonetheless, the numbers are there and they are astounding. More than half the United States’ gross domestic product is produced by family businesses, and they are the largest job creators (employers) in the nation.
Family businesses are unique in character and face many different and pertinent issues that are not encountered in corporate firms. Dr. Keanon Alderson depicts, in a very coherent and systematic way, the differences between family businesses and nonfamily businesses. Dr. Alderson comes from and has worked in his own family businesses, so his understanding of these pertinent issues is evident throughout this well–thought out book.
As a consultant to family businesses for the past 20 years and a lecturer at both the graduate and undergraduate level at San Diego State University, I find this book has been written with depth and understanding of the issues facing family businesses. It is an easy read, and students of family business will find it enlightening. This book will help the reader understand, appreciate, and differentiate between a family business and a nonfamily business. As Dr. Alderson says, “Family business is the most prevalent form of business in the world.” I look forward to making this book available to all my students as we continue to create an awareness of the important role family business plays in our global economy.
Carmen Bianchi and Associates
Former Director, Entrepreneurial Management
Center (EMC) Business Forum
College of Business Administration
San Diego State University
Past President, The Family Firm Institute (FFI), 2007–2009