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Abstract
Contemporary companies face constantly-changing conditions, requiring them to implement clear strategies and some sort of management model to be more efficient and effective and to generate higher levels of performance. If problems and conflicts which arise from being family-owned businesses are added to these conditions, it becomes necessary to improve the management and the control systems that are implemented. This is due to an urgent need of this type of organization, which represents a high percentage of the companies in the country (around 70%). Family businesses are structured as small and medium enterprises and have difficulties with planning their operations formally and, thus, with short- and long-term growth.
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