Impact of a family council intervention on owner knowledge and stewardship within a family business

This mixed-methods study examined the impact of forming a family council on family owners\u27 knowledge, commitment, and stewardship within a single family business. Data were gathered from six of the eight owners using survey and dialogue methods. The study provided evidence that family council interventions can indeed provide opportunities for family members to address unresolved family tensions and empower owners to work together productively. The intervention (a) helped members establish a strong foundation for future operation of the family council, (b) engendered greater family member engagement and stewardship, (c) created conditions for acknowledging and discussing family strengths and tensions, and (d) motivated members to take initiative moving forward. Longitudinal mixed-methods research using larger samples of multiple companies and larger ownership groups with varied levels of participation are recommended to extend these findings