Definition


FAMILY STRATEGIC MATURITY LEVEL OF A BUSINESS FAMILY


According to Kane et al. (2018)* the family strategic maturity level of a business family is the scope and extent of the use of self-reflection, communication and collaboration systems that promote decision-making and cohesion within the business family. The degree of maturity thus provides information about the scope, content and degree of implementation of an implicit or explicit family strategy and the family governance based on it or the (self-) management of a business family.

* Kane, G. C.; Palmer, D.; Phillips, A. N.; Kiron, D. & Buckley, N. (2018): Coming of Age Digitally. In: MIT Sloan Management Review, /2018. https://sloanreview.mit.edu/projects/coming-of-age-digitally/ [03.01.2021].