Title

Conflict management strategies for family businesses: a literature review

Abstract/Description

Conflicts are part of every organization and when there is a blend of family and organization, its propensity increases. The conflict has been perceived as a negative phenomenon but with time, it has revolutionized, and now it is being perceived as good or bad depending upon the type of conflict and the situation where it is arising. This literature review aimed to bring together those papers that have studied the tools and strategies to manage conflicts in family businesses. Most of the studies have valued family businesses as one of the valuable proportions of several economies and due to its high market share and reputation, management of conflict at right time with the right solution can benefit the firms and economies simultaneously. The following literature unfolds the type of conflicts, generational and succession dilemmas, other major issues that lead to conflict, and ways how these conflicts can be fixed and managed. After going through the detailed literature, a few gaps have been identified that could be worked upon in future research.

Track

Management

Session Number/Theme

Session 2D: Leadership and Management

Session Chair

Dr. Muhammad Ayaz, Institute of Business Administration, Karachi

Start Date/Time

23-6-2022 4:10 PM

End Date/Time

23-6-2022 4:30 PM

Location

Crystal Ball Room, Marriott Hotel, Karachi

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Jun 23rd, 4:10 PM Jun 23rd, 4:30 PM

Conflict management strategies for family businesses: a literature review

Crystal Ball Room, Marriott Hotel, Karachi

Conflicts are part of every organization and when there is a blend of family and organization, its propensity increases. The conflict has been perceived as a negative phenomenon but with time, it has revolutionized, and now it is being perceived as good or bad depending upon the type of conflict and the situation where it is arising. This literature review aimed to bring together those papers that have studied the tools and strategies to manage conflicts in family businesses. Most of the studies have valued family businesses as one of the valuable proportions of several economies and due to its high market share and reputation, management of conflict at right time with the right solution can benefit the firms and economies simultaneously. The following literature unfolds the type of conflicts, generational and succession dilemmas, other major issues that lead to conflict, and ways how these conflicts can be fixed and managed. After going through the detailed literature, a few gaps have been identified that could be worked upon in future research.