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Navigating corporate governance challenges over a firm's life cycle

Paying proper attention will ensure firm's continued growth.

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A young Bruce Wayne with his murdered parents; in the course of the Batman trilogy, we can see that professional managers took Wayne Enterprises on a very different path, clearly at odds with the values of the founder-owner; professional managers may be motivated but may not share the same values as the owners.

THERE are two commonly cited findings about family businesses that highlight the pitfalls and potential of such businesses. First, most family businesses have a short life span beyond the founder's stage and it has been estimated that 95 per cent of family businesses do not survive the third

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