Advice for Managing Conflicts in Family Businesses

 

Managing Conflicts pic
Managing Conflicts
Image: familybusinessinstitute.com

Placing its focus on providing high standards of customer service and competitive pricing to its customers, DV Medical Supply offers a range of medical, pharmaceutical, and surgical supplies to the veterinary and medical industries. Family operated, the company was founded by Neal Hyams in 1978 and is now overseen by his wife, Dr. Stephanie Ferguson, who took the reins of DV Medical Supply in 2005.

Conflict in family businesses is often magnified due to the strength of the emotional bonds involved. As completely as possible, business issues should be kept separate from personal ones. For many, this involves creating set communication protocols that define the topics that can be discussed in the context of the business, and those that should be avoided.

Removing the family from the business environment for short periods of time can also prove beneficial, as many run the risk of becoming so invested in their professional lives that issues bleed over into their family lives. Family retreats are an ideal way to strengthen bonds and improve communication within the family, while also offering time away from the pressures of running the business.

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