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May 29, 2026

You have been recently hired as CEO to develop and grow a family business that has been operating successfully for two generations

Applied Sciences

You have been recently hired as CEO to develop and grow a family business that has been operating successfully for two generations. However, the growth trajectory of the business has leveled off, and the business seems headed into decline. In your review of the operation, you realize that there are a few family members working in the business who are not pulling their weight, so you decide that a governance plan needs to be developed. Provide a basic outline for the key items that you will include in your governance plan with detail relating to the rationale for each item.

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