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Family firms are to be found in every sector of commercial activity, and their special strengths mean that they flourish best where their advantages can be fully exploited. Family Businesses: The Essentials is a comprehensive guide to every aspect of managing a family-owned firm, from day-to-day issues to long-term planning for future generations. This new and completely revised version of the author's previous Guide to the Family Business (Kogan Page; last edition 1999) provides an accessible introduction to newcomers, and also offers knowledgeable business people fresh insight and solutions to the special problems they face. All family businesses are different, but it is critical for each to define its shared family values, vision and purpose. Family Businesses: The Essentials shows how to achieve this, and how to allow each generation to reinterpret and revitalise that vision. Fresh, updated and more sharply focused, packed with real-life case studies, and drawing on the author's extensive research into thousands of family businesses, this is essential guidance for every stage of a family business's development.