Small / Family Business

In many industries, small and family-run organizations make up a large proportion of business. For some executives, small businesses provide an intimacy that can help make decisions and operations more efficient than in larger organizations. Executives who run small and family businesses face unique challenges – for example, family dynamics need to be delicately managed, or otherwise might negatively influence business decisions. However, family businesses can also grow to be incredibly successful: Wal-Mart, for example, began as a family business and is now one of the world’s biggest corporations.